Saturday, October 31, 2009

What type of contract is a personal loan where installment payments are made monthly?

I signed a contract with a financial company for a small personal loan, where I made monthly installment payments on a revolving line of credit. Is that considered a written, promissory, or open-ended account in terms of the statute of limitations to sue in court? Thanks



What type of contract is a personal loan where installment payments are made monthly?

Who%26#039;s suing who? Sounds open-ended by the fact it%26#039;s a revolving line of credit. Usually means not a fixed amount.

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