Mutual accounts between persons not merchants

When there are mutual accounts between persons who are not merchants, the time is computed from the true date of the last item, unless the account is liquidated and a balance struck. Code 1858, § 2778; Shan., § 4475; Code 1932, § 8603; T.C.A. (orig. ed.), § 28-312. When there are mutual accounts between persons who are not merchants, the time is computed from the true date of the last item, unless the account is liquidated and a balance struck. Code 1858, § 2778; Shan., § 4475; Code 1932, § 8603; T.C.A. (orig. ed.), § 28-312.