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413.130 When certain actions in KRS 413.120 accrue.
(1)
(2)
(3)
In every action upon a merchants' account as described in subsection (9) of KRS
413.120, the limitation shall be computed from January 1 next succeeding the
respective dates of the delivery of the several articles charged in the account.
Judgment shall be rendered for no more than the amount of articles actually charged
or delivered within five (5) years preceding that in which the action was brought. If
any merchant willfully postdates any article charged in such account, or the receipt
for the delivery of it, he shall forfeit ten (10) times the amount of the article
postdated, to be credited against the account. This credit shall be allowed in an
action on the account, without any written pleadings setting it up.
In an action to recover a balance due upon a mutual open and current account
concerning the trade of merchandise between merchant and merchant or their
agents, as described in subsection (10) of KRS 413.120, where there have been
reciprocal demands between the parties, the cause of action is deemed to have
accrued from the time of the last item proved in the account claimed, or proved to
be chargeable on the adverse side.
In an action for relief or damages for fraud or mistake, referred to in subsection (11)
of KRS 413.120, the cause of action shall not be deemed to have accrued until the
discovery of the fraud or mistake. However, the action shall be commenced within
ten (10) years after the time of making the contract or the perpetration of the fraud.
Effective: June 24, 2015
History: Amended 2015 Ky. Acts ch. 121, sec. 4, effective June 24, 2015. -- Amended
1998 Ky. Acts ch. 196, sec. 30, effective July 15, 1998. -- Recodified 1942 Ky. Acts
ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 2518, 2519, 2520.
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