A person borrowed $3,000 in California, back in 2007, and signed an I.O.U., but no effort has been made to collect the debt. What is the statute of limitations on the I.O.U.?
A person borrowed $3,000 in California, back in 2007, and signed an I.O.U., but no effort has been made to collect the debt. What is the statute of limitations on the I.O.U.?
The statute of limitations is four years (written contract), starting from the date of default.