Beneficial Consumer Discount v. Dailey

OLSZEWSKI, Judge:

There is one question presented here: Did the Daileys sign a contact under seal when they took a loan from Beneficial? If they did, Beneficial’s action to enforce the agreement was timely. If they did not, the action is barred by the statute of limitations. We find that they signed a contract under seal and affirm the trial court.

The Daileys borrowed $2,880.00 from Beneficial in 1985. When they signed the loan agreement — a pre-printed form used by Beneficial in all consumer loan transactions — the word “SEAL” was pre-printed to the right of their names. The Daileys defaulted…