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Posted Oct 20th, 2011
what is the statute of limitations in the state of Tennessee for an oral contract? There is nothing
in writing.

Additional Details:
I loaned a friend money in august of 2010. We made an oral agreement that she would pay a certain
amount each month and would have the money paid back to me within a year. She has only made one
payment and I have not received anything since that time. I want to find out if I have any rights
to seek relief in a court of law or has the statute of limitations already run out?
Legal Topic Area: Breach of Contract in TN

In TN, the statute of limitation for breach of contract is 6 years. However, due to statute of frauds, all contracts made for the loaning of money must be in writing. Therefore, you likely would not be able to bring suit in TN courts for breach of contract, because your contract was an oral contract.

For more information visit my website at www.alsobrooklaw.com.

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Answered on Feb 8th, 2012 at 1:50pm