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    Cardassian's Avatar
    Cardassian Posts: 1, Reputation: 1
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    #1

    Apr 2, 2007, 05:46 PM
    CaptainForest (or anyone) Ontario SOL
    A friend of mine borrowed $4200 from someone July 2003 with a repayment stipulation
    Of 1 year. Normally I would advise her to pay back (if she could) but rather extraordinary
    Circumstances such as blackmail and emotional stress unrelated to the loan negate that.
    Are there grounds to tell this guy to take a hike? I understand that SOL law changed on
    Jan 1, 2004, but I'm a bit confused with the stipulated repayment term traversing the
    Date when the law changed. Please advise.

    PS - Is that CaptainForest of the ISS Enterprise ?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Apr 2, 2007, 11:43 PM
    The Limitation period starts when the claim is first discovered.

    Therefore, this man who lent the money first discovered a claim in July/August of 2004 when the loan was not paid back to him.

    At the time, the new SOL was in effect, so I would assume the new SOL would govern this situation.

    Your friend still owes this money, but if this was just a general loan, this lender can't use the court system to obtain a judgment.

    What is the ISS Enterprise?
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