Legal Question in Legal Ethics in California
Someone owes me money......
We gave someone money about 7 years ago to pay for his education. During the course of few months our relationship with him strained. We waited till that person settled down in life (so that he pays us back). What are the chances that we will get our money back (~$15000)? We have proof in the form of duplicate checks and nothing else. He doesn't respond to our calls or emails.
2 Answers from Attorneys
Re: Someone owes me money......
Unless your agreement states that payments are deferred until x date, you might be out of luck as far as filing a collection lawsuit is concerned. The statute of limitation for breach of written agreement is 4 years from the borrower's last payment, or 2 years for an oral agreement.
Re: Someone owes me money......
As Mr. Cohen has pointed out, it appears to be too late.
The Statue of Limitations bars any action.
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