Statute of Limitations."Īttorney General Leslie Rutledge. " Small Claims Information: Statutes of Limitation." " What Is the Statute of Limitations on Contracts in Alabama?" " 12 CFR Section 226.2 - Definitions and Rules of Construction." " Promissory Note."Ĭornell Law School Legal Information Institute. Department of Housing and Urban Development. " Medical Bills & Debt Collection."įederal Student Aid. " What Is a Statute of Limitations on Debt?"įederal Trade Commission Consumer Advice. Credit cards, in-store credit, and lines of credit are all examples of open-ended accounts.Ĭonsumer Financial Protection Bureau. Open-ended credit: A revolving account you can repay and then borrow against again is open-ended. ![]() Home loans and student loans are two examples of promissory notes. Promissory notes: A promissory note is a written agreement to pay back a debt in a certain number of payments, at a certain interest rate, and by a certain date and time. ![]() For instance, medical bills may be considered a written contract, even if no repayment terms are included and the bill itself doesn't contain any signatures. Often a written contract includes the terms and conditions of the loan, such as the loan amount and monthly payment.
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