Legal Question in Civil Litigation in New York

I may need to sue a dear friend for money loaned and owed. I dont want to, but may have to come to it. They are in a bind I am familiar with at the moment, but ensures they will be OK by August to pay back part of the loan. I want to give them extra time to see if they come thru, but would like to file now just in case. If they are unable to come thru again, I will have to end our long friendship and serve. How long can I wait before serving a summons? Is there an expiration period?

Asked on 5/29/13, 10:42 pm

1 Answer from Attorneys

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There is a six year statute of limitiations on contract cases. Do you have anyt documents in writing from your friend; any receipts, cancelled checks, written acknowledgement of loan, etc. I would start an action now if you figure you wnat to preserve your rights; but beware, you can not get blood from stone. If he is playing you, you might as well proceed.

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Answered on 5/30/13, 7:30 am

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