What is the statute of limitations on a claim for damages arising out of a promissory note?

California, United States of America


The following excerpt is from Readycap Lending, LLC v. By Faith Prods., Inc., A146609 (Cal. App. 2018):

As to the four-year statute of limitations (Code Civ. Proc., 337), since the promissory note required the payment of monthly installments, the limitations period commenced as to each installment when that installment became due. (White v. Moriarty (1993) 15 Cal.App.4th 1290, 1299.) Plaintiff limited its claim to amounts that became due within four years of the filing of the complaint. Its showing in support of the summary judgment motion makes clear that the damages it sought and recovered includes no amount that became due prior to that date.

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