Portfolio Recovery Associates, LLC v. King

14 N.Y.3d 410 (2010)

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Portfolio Recovery Associates, LLC v. King

New York Court of Appeals
14 N.Y.3d 410 (2010)

Facts

In 1989 Jared King (defendant), then a resident of Connecticut, opened a credit card account with Greenwood Trust Company, a Delaware company that later changed its name to Discover (Discover). Under the credit card agreement, Delaware law applied. In January 1999, King canceled his credit card, making his last payment in December 1998 despite an outstanding balance. In August 2000, Discover assigned King’s outstanding account to Portfolio Recovery Associates, LLC (Portfolio) (plaintiff). In April 2005, Portfolio filed suit against King, now a New York resident, in New York state court, claiming breach of contract. King’s answer asserted that Portfolio’s claims were time-barred under Delaware’s three-year statute of limitations based on New York’s Civil Practice Laws and Rules (CPLR) § 202, a borrowing statute. CPLR § 202 provided that in an action based on a cause of action that accrued out of state, the statute of limitations of the state where the cause of action accrued and New York’s statute of limitations both applied. Delaware also had a tolling statute that tolled the statute of limitations during the time that the defendant was outside of Delaware until the defendant could be served within Delaware, but Delaware courts had not applied this tolling statute against individuals, such as King, who had never resided in Delaware. The trial court granted Portfolio’s motion for summary judgment, the appellate division affirmed, and King appealed.

Rule of Law

Issue

Holding and Reasoning (Pigott, J.)

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