Kansas

STATE INTEREST RATES AND USURY LIMITS:

• Legal Rate: 10%

• Contract Rate: Not to exceed 15%

• Judgment Rate: On or after July 1st, 1996, the rate of interest on judgments rendered by courts shall be 12%, Also on or after July 1st, 1996, it shall be presumed that applying interest at the rate of 10% will result in the correct total of interest accrued on any judgments. Kan. Stat. Ann. §§ 16-204(e)(1)-(3)

• Corporate Rate:  No set rate

 

LEGAL AGE:

• Age of Majority: 18 or 16 years or more and married

• Emancipation:  18 or upon judgment by law

• Contracts: Minors are liable for contracts unless the minor disaffirms the contracts within a reasonable time of reaching 18

 

DEBT RESPONSIBILITY: DOCTRINE OF NECESSARIES

• A minor is bound by contracts for necessaries. Parents are obligated to provide for their children and those who do not can face a felony of criminal nonsupport. Husbands and wives are viewed as equals but before a creditor may seek payment from one spouse, they must first pursue payment from the spouse that received the services. A parent’s nonsupport if a severity level 10, nonperson felony.

 

STATUTE OF LIMITATIONS FOR CIVIL ACTIONS:

• Contracts: All actions upon contracts (not in writing), 3 years; Contracts in writing, 5 years

• Judgments: 5 years

 

This information is not to be construed as legal advice. Legal advice must be tailored to the specific circumstances of each case. Although we attempt to provide up-to-date information, laws and regulations often change. We make no claims, promises, or guarantees about the accuracy or completeness of this document. For legal advice please contact an attorney. 

Contacted
by BCC?