Legal Question in Business Law in New York
In new York state how long can you legally file for money that you lent somebody if it is around $40000.00 and you gave it out in a check to them and in the memo area you wrote loan to
3 Answers from Attorneys
Six years from the date of the check.
Mike.
My colleague is correct. However, though the statute of limitation is 6 years, New York State has a legal concept called 'laches' whereby a a claimant cannot just sleep on his or her rights because conduct will be a factor if the defendant asserts the affirmative defense of 'laches.' This means you should act as soon as practicable.
Feel free to contact my office at your earliest convenience.
Roman R. Fichman, Esq.
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It would likely be six years. We have substantial experience handling these types of cases, however, we would need some more information before making a complete and proper determination. You are welcome to contact us for a free consultation.
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