Schmidt v. Desser

An agreement deferring the payment of an unliquidated sum owed to the plaintiff did not fix the amount due. When the plaintiff brought suit on the underlying debt, the statute of limitations had already run. Because the oral agreement deferring the payment did not fix a definite amount that the debtor owed, it did not toll the statute.

On April 20,1965, Frank A. Schmidt, the plaintiff, sued Keith Desser and several of Desser’s business corporations on an oral employment agreement. Schmidt sought an accounting and a money judgment. Between the time of filing and 1972 the suit was dismissed…