Opinion ID: 4508049
Heading Depth: 2
Heading Rank: 2

Heading: CAG can equally recover amounts owed under

Text: either statute of limitations. For the reasons outlined in Blair, we find that—under either of Indiana’s two applicable statutes of limitations—a cause of action for payment upon a promissory note with an optional acceleration clause can accrue on multiple dates. Id. One of those dates is when a lender exercises Indiana Supreme Court | Case No. 19S-CC-531 | February 17, 2020 Page 5 of 6 its option to accelerate before a note matures. Id. at 8–9. And, as also explained in Blair, we find it unnecessary to impose a rule of reasonableness when a lender sues to enforce installment obligations on a closed installment contract, such as a promissory note. Id. at 5–6. Here, the two statutes provide CAG identical paths to relief. Cf. Moryl, 4 N.E.3d at 1138 (noting that the plaintiff timely filed her complaint under either statute). CAG brought its claim against Alialy in 2017, well within six years of when it accelerated the debt in 2016. Thus, CAG’s claim to recover the full amount owed on the note is not time-barred.