promissory note
If the company signed a promissory note, it's been 4 years from the due day but the creditor never sued, does it means the creditor cannot collect it anymore since it passed the statute of limitation?
Re: promissory note
The creditor can file a lawsuit, but if the debtor raises the correct statute of limitations as an affirmative defense in the answer, and can prove that the limitation period expired prior to the filing date of the lawsuit, the debtor wins.
