What is the validity period of the IOU dated January 31, 2017?

First of all, an IOU without a repayment date is not subject to the statute of limitations, but it should not be delayed for ten or twenty years. The statute of limitations for repayment is three years, but if there is a suspension or interruption, it is necessary to retain evidence. If you have an account, hurry up, and what should you do if you can't find the arrears.

You may not be aware of the interruption of the statute of limitations: The reasons for the interruption of the statute of limitations include the filing of a lawsuit (suing), the filing of a request by one of the parties (request), or the agreement to perform an obligation (undertaking).

Consequences of the interruption of the statute of limitations:

After the cause of interruption of the statute of limitations occurs, the period of limitation that has already elapsed shall be invalid, the period of limitation shall not be carried out during the period of interruption, and the period of limitation shall be recalculated when the cause of interruption is terminated. However, the determination of the termination of the cause of interruption varies depending on the nature of the cause

1) If the statute of limitations is interrupted due to request or consent, the written notice shall be terminated on the grounds of reaching the counterpart; Oral notification shall be terminated on the grounds that the counterparty is aware. After the limitation period is restarted, if the obligee requests again or the obligor agrees to perform the obligation again, the statute of limitations may be interrupted again.

2) If the statute of limitations is interrupted due to the filing of a lawsuit or arbitration, it shall be terminated when the lawsuit is concluded or the court makes a ruling; If the right holder applies for enforcement procedures, it shall be terminated on the grounds that the enforcement procedures are completed.

3) If the statute of limitations is interrupted due to mediation, and the mediation fails, it shall be terminated on the grounds of failure; If the mediation is successful and the contract is reached, it shall be terminated on the grounds of the expiration of the performance period stipulated in the contract.

Legal analysis: In general life, the so-called validity period of litigation is called the statute of limitations in law, and if the statute of limitations is exceeded, the creditor will lose the right to win the lawsuit, and the creditor's right will become a natural creditor's right. In private lending, if there is a specific time limit stipulated in the IOU, the statute of limitations is 3 years from the date of maturity, and if the repayment period is not clearly stipulated in the IOU, the borrower may request the debtor to repay the loan at any time, but if the IOU is signed for more than 20 years, the people's court will not protect it.

Of course, the statute of limitations also has statutory reasons for interruption and suspension. If the creditor files a lawsuit or makes a reminder within the statute of limitations, and the debtor confirms the creditor's right or agrees to perform the obligation, the statute of limitations is interrupted. From the time of interruption, the statute of limitations period is recalculated.

In the last six months before the expiration of the statute of limitations, if the right to claim cannot be exercised due to force majeure or other obstacles, the statute of limitations is suspended. The limitation period continues to run for six months from the date on which the original cause of the suspension of the statute of limitations is removed. Where the statute of limitations period has expired and the parties voluntarily perform it, it is not subject to the statute of limitations.

Legal basis: Article 188 of the Civil Code of the People's Republic of China: The statute of limitations for requesting protection of civil rights from the people's courts is three years. Where the law provides otherwise, follow those provisions.

The limitation period is calculated from the date on which the right holder knows or should know that the right has been damaged and the obligor. Where the law provides otherwise, follow those provisions. However, if more than 20 years have elapsed since the date on which the rights have been infringed, the people's courts shall not grant protection, and if there are special circumstances, the people's courts may decide to extend the rights holder on the basis of the application of the rights holder.

1.If the IOU does not write the return time, the creditor can ask the other party at any time, but if you file a lawsuit, it should be noted that it is generally a shouting situation when it is due.

2.The statute of limitations shall be calculated from the expiration of the last instalment performance period.

3.The general statute of limitations for a request for protection of civil rights is 3 years, unless otherwise specified. However, if there is a reason for interruption during the limitation period (e.g., a creditor requests the debtor to repay the debt, the debtor agrees to perform the debt, the creditor files a lawsuit or an adjudication by Chung Cheng Jing Yuen), the limitation period will start to run again from the date of occurrence.

The time limit for filing an IOU is three years.

For IOUs that have indicated the date of performance of the payment of arrears, the limitation period shall be calculated from the day on which the date of repayment of the arrears is indicated, and for the IOUs that do not indicate the date of performance of the payment of the arrears, the limitation period shall be calculated from the second day after the debtor issues the IOU. Legal basis: Article 188 of the Civil Code of the People's Republic of China provides that the statute of limitations for requesting protection of civil rights from the people's court is three years.