Cadle Co. v. Prodoti

If a debtor defaults on an obligation payable in installments, when does the statute of limitations on installments due in the future begin to run? Surprisingly, this important commercial question has not been answered in Connecticut since 1787. It must now be addressed in this case.

On February 5, 1990, the defendant, Michael V. Prodoti, who was purchasing an automobile, signed a retail installment contract with Crest Lincoln Mercury, Inc. (Crest). Prodoti agreed to pay Crest sixty monthly payments of $330.83 each. The first payment was due on March 7, 1990. The contract provides that:…