
Quoting
map0824
So obviously I don't know all the facts but the way it was explained to me is that in NC if no action is taken after the contract is breached before the statute has expired the contract is dissolved and unenforceable by either party. The exception being if there is wording in the contract like "signed under seal" That statement extends the statute of limitations to 10 years. Even with a judgment if no payments have been made within 3 years the holder of the judgment would have to go back to court to refresh the judgment. I am sure that is not the correct legal term. NC has a lot of consumer protection laws I have been told so once 3 years go by any enforcement of a contract becomes extremely difficult if not impossible.