1. (a) No action founded upon any express contract or agreement which is not reduced to writing, or of which some note or memorandum is not made in writing and signed by the party to be charged therewith or his agent, shall be brought but within three years after the right of action accrues.
2. (b) This section shall not apply to causes of action governed by article 2 of title 42a.

(1949 Rev., S. 8320; 1961, P.A. 116, S. 24; P.A. 82-160, S. 249.)

History: 1961 act excepted causes of action governed by article 2 of title 42a; P.A. 82-160 deleted the exception for “actions for a debt due by book or actions founded on proper subjects of book debt”, rephrased the section and inserted Subsec. indicators.