Re: what is a promissary note
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Posted by scott (65.25.99.145) on January 24, 2003 at 11:50:14:
In Reply to: what is a promissary note posted by gabby on January 24, 2003 at 11:29:06:
Out of curiousity I called the Idaho finance department. They stated if you signed papers for a checking account(I assume you did) then it is considered a written account and therefore the SOL is 5 years. TITLE 5 PROCEEDINGS IN CIVIL ACTIONS IN COURTS OF RECORD CHAPTER 2 LIMITATION OF ACTIONS 5-216. ACTION ON WRITTEN CONTRACT. Within five (5) years: An action upon any contract, obligation or liability founded upon an instrument in writing. The limitations prescribed by this section shall never apply to actions in the name or for the benefit of the state and shall never be asserted nor interposed as a defense to any action in the name or for the benefit of the state although such limitations may have become fully operative as a defense prior to the adoption of this amendment.
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