Reducing statute of limitations on actions to recover on oral and written contracts

SB 85 shortens the deadline for filing lawsuits to recover money on contracts, fiduciary bonds, and recognizances. It reduces the time limit from 5 years to 2 years for most contracts (both oral and written) and from 10 years to 5 years for claims involving fiduciary bonds (such as those held by executors or guardians) and non-bail recognizances. This change directly affects individuals and businesses seeking to enforce contracts or recover funds from fiduciaries or recognizance agreements. The bill requires claimants to initiate legal action more quickly under these specific circumstances.