Legal Question in Business Law in California

Four years is the deadline or statute of limitations to file a suit on a written breach of contract. Better get moving.

Sounds like you 1) lent money without demanding adequate security for the loan or having the loan papers reviewed by your own attorney; and 2) waited more than three years to sue. Is this really the first time you've sought legal help from attorney? My best guess is you are stuck out of luck for the $75,000, but consult an attorney in your locality without delay.

Fred,

Four years, but arguably from the time of breach, not the time of contracting. Do you have a deep pocket to go after? I can write you a good demand letter. There may be certain angles to use that may increase your chances. If you would like my help, send me an email.

Best,

Daniel Bakondi, Esq.

[email protected]

415-450-0424

The Law Office of Daniel Bakondi, APLC

870 Market Street, Suite 1161

San Francisco CA 94102

http://www.danielbakondi.com

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If it was a loan evidenced by a written promissory note, the statute of limitations is four years. If it was an oral loan, the statute of limitations is two years. Both statutes run from the date of breach, meaning the date that the payments stopped. I suggest consulting with an attorney.