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님 답변
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2/14/2013 5:27:25 PM
Unfortunately this happens often among Koreans. You lend money to a friend but you have no written agreement, but just a check. The check is not an agreement, it is merely evidence of a loan. The problem you have is with statute of limitation. A loan is like a contract, as such you have 2 years to sue from the date of breach. If the contract was in writing, you have 4 years to sue from time of breach. The date of breach would be the date that the borrower agreed to repay. For example, even if you lent the money 10 years ago, if the borrower agreed to repay within 10 years, the breach would start at the conclusion of the 10th year. If however, there were no due date, chances are there would be a defense of statute of limitation since its been 10 years.
You may still choose to sue and hope that the borrower doesn't file an answer with the court in which case you can get a judgment anyhow.
You may still choose to sue and hope that the borrower doesn't file an answer with the court in which case you can get a judgment anyhow.
