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Form #1332New promise—Debt barred by limitations
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Your use of this site constitutes your acceptance of our terms of use and your
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New promise—Debt barred
by limitations.
Agreement made this _________ day of _________[year],
between _________, of _________, called debtor, and _________, of _________,
called creditor:
Debtor on the _________ day of _________[year],
became indebted to creditor in the sum of _________ dollars for _________[state
nature of claim].
_________ years have passed since the creation of the
indebtedness and it now remains wholly unpaid [or state amount still owing], so
that the claim is barred by the statute of limitations.
Debtor desires and wishes to pay and renew the
indebtedness and become as fully liable as if the statute of limitations had
not barred the indebtedness.
In consideration of the above premises and the
forbearance of creditor to enforce the indebtedness before recovery of it was
barred by operation of the statute of limitations, debtor acknowledges the
indebtedness to be justly due to creditor, and agrees to pay it upon the
_________ day of _________[year], [or within _________ years from this
date], together with interest at the rate of _________ percent per annum from _________[date].
Creditor, in consideration of these agreements, agrees
not to sue for or require the payment of the indebtedness unless and until
default is made in payment at the time appointed.
[Place and date]
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not be construed as legal advice. You are strongly encouraged to consult competent
legal council before engaging in any action based upon content contained on this
site.
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or any other commercial use is prohibited. This includes reposting forms from this
site to another site offering free legal or other document forms for download.
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form, and you agree to abide by these terms. It is highly recommended that you have
a licensed attorney review any legal documents for which you are searching in order
to make sure that your needs are being properly and completely satisfied.
Your use of this site constitutes your acceptance of our terms of use and your agreement
to hold this site, its officers, employees and any contributors to this site harmless
for any damage you might incur from your use of any submissions contained on this
site. If you do not agree to the above terms, please do not proceed.
These forms are provided to assist business owners and others in understanding important
points to consider in different transactions. They are offered with the understanding
that no legal advice, accounting, or other professional service is being offered
by these documents or on this website. Laws vary in the different states. Agreements
acceptable in one state may not be enforced the same way under the laws of another
state. Also, agreements should relate specifically to the particular facts of each
situation. Therefore, it is important to consult legal counsel whenever utilizing
these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com
is not engaged in recommending or referring members on the site or making claims
about the competence, character or qualifications of its participating members.
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Keywords: New,promise,debt,barred,limitations
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