While Commercial Code 3118(a) provides for a 6 year statute of limitations which can apply to a promissory note (9-109(a)(3). The key is this ONLY applies to a negotiable instrument (Comm. Code §3102) So, you have to make sure your promissory note falls under the...
Experienced Real Estate And Business Attorney
Defenses
Waiver of Guarantor defenses in guarantee agreement does NOT waive equitable defenses.
Lender counsel (e.g. debt collectors) often argue a guarantor debtor has no defense as they waived all defenses. That is not true. See California Bank and Trust v. Thomas Del Ponti (2014) 232 Cal.App. 4th 162. The court held Civil Code §2856 ONLY waives those...