Civil procedure — promissory notes, successors

Posted October 15, 2019 5:15 PM

Where a successor in interest to a promissory note files suit against the borrower, the promissory note is subject to a 10-year statute of limitations under Section 13-206 of the Code of Civil Procedure and is not considered an “unwritten contract” subject to a five-year statute of limitations even if parol evidence is required to ascertain that the plaintiff is the proper successor in interest.The 1st District Appellate Court affirmed the decision of Cook County Circuit Judge William B. Sullivan.Byron T …

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