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Paul Porvaznik – Business Litigator

Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)

Tag Archives: Article 3

Ten-Year Statute of Limitations Applies to Demand Promissory Note: Three-Year ‘SOL’ For Negotiable Instruments Does Not

Advanced Credit, Inc. v. Linares, 2012 IL App (1st) 121574-U is a fairly recent case illustration of what happens when two statutes of limitation with widely varying time lengths potentially govern the same case. The defendant in Linares signed a promissory note in 2002 that was payable to the defendant “upon demand.” The plaintiff payee …

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Posted byPaulPJune 8, 2015June 17, 2019Posted inCivil Procedure, Contract LawTags: Article 3, check, demand note, Negotiable instrument, promissory note, statute of limitation, ten-year, three-year, UCC
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