Legal Question in Credit and Debt Law in California

Re: statute of limitation on promissary note

In reply to your inquiry, let me offer the following:

In general, promissory notes are governed by the statute of limitations applicable to actions on written contracts. An action for breach of a written contract must be brought within 4 years of the date of breach. The code section is Cal. Code of Civil Procedure � 337.

Unless, for some reason, the statute has been "tolled" i.e., certain circumstances preclude the statute from running, the statute on the note would begin to run on the date the borrower failed to make a payment when due under the terms of the note. If that date is over 4 years in the past, the borrower most likely has a good statute of limitations defense to any action to recover on the note.

Feel free to let me know if you have questions or

comments. Now, let me give the "de rigeur" caveat:

The foregoing information is provided as an

accommodation only, and does not constitute legal

advice or a legal opinion based on a comprehensive

review of all relevant facts and documents, nor can

provision of such information be construed as

creating an attorney-client relationship.