CAN I COLLECT MY COMPANY’S DEBT IF IT IS MORE THAN FOUR YEARS OLD?
It is possible to attempt to collect a debt in some cases even if the debt is more than four years old. The concept of a statutes of limitations, as arcane as those words sound, is familiar to most people. The phrase just means how long before the right to sue expires. This concept has existed as least as far back as the 13th century. The English cleric and jurist, Henry of Bracton, wrote De Legibus et Consuetudinibus Angliae (“On the Laws and Customs of England”) in 1250. This treatise dealt with the whether the king or the sovereign entity could...
Continue reading