STATE INTEREST RATES AND USURY LIMITS:
• Legal Rate: 6%
• Contract Rate: 8%
• Judgment Rate: 3 percentage points above the Fifth Federal Reserve District secondary discount rate in effect on the second day of January of the year in which the judgment or decree is entered. W. Va. Code § 56-6-31(b)
• Corporate Rate: No set rate
• Age of Majority: 21
• Emancipation: By marriage if under 16 or 16 and over may apply for emancipation by court. W. Va. Code Ann. § 49-7-27.
• Contracts: 18 years or older may enter into contracts. W. Va. Code § 2-3-1
DEBT RESPONSIBILITY: DOCTRINE OF NECESSARIES
• Both spouses are liable for necessaries for each other and their children. W. Va. Code Ann. § 48-29-303
STATUTE OF LIMITATIONS FOR CIVIL ACTIONS
• Contracts: Written under seal, 10 years; Oral, 5 years; Written, 10 years
•Judgments: Domestic, 10 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 consult an attorney.