Legal Question in Credit and Debt Law in Florida

personal loan with written agreement

Is there a statute of limitations on this written agreement? the agreement was signed when I lived in Florida and the person to whom I loaned money lived in Florida. I have since moved to NY. The agreement was suppose to be fulfilled last February - it didn't happen but the person does make random payments. I just want to make sure that there is not a statute of limitations on written agreements since since the first part of the loan was made 3 years ago.


Asked on 3/11/09, 11:21 am

1 Answer from Attorneys
Raymond LaBella LaBella Law, P.L.

Re: personal loan with written agreement

The statute of limitations on written contract in Florida is 5 years from the date of breach. The date of breach for an IOU would be the date when payment was due but not paid. So, if your contract was entered June 1, 2006, and payments were due monthly on the 1st, and the debtor paid up until May 1, 2008, the the date of breach would be May 1, 2008. Suit would need to be brought on or before May 1, 2013.

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Answered on 3/11/09, 11:32 am


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