Download as PDF
413.130 When certain actions in KRS 413.120 accrue -- Regulations for.
(1)
(2)
(3)
In every action upon a merchants' account as described in subsection (10) 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 (11) 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
(12) 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:July 15, 1998
History: 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.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.