Statutes of Limitation

This is the 5th in a series of posts about Mississippi Statutes of Limitation. To read the first 4, click here .

On a civil claim belonging to the state of Mississippi or any of its subdivisions or municipalities, the statute of limitation never begins to run. So, one of these governmental entities can file a civil lawsuit against the defendant even though a private plaintiff would be barred by the statute of limitation.

Conversely, the statute of limitation does run in favor of the state, its subdivisions or municipalities. The statute begins to run when the plaintiff first had the right to demand payment.

A promissory note is a written promise by one party (called the “maker”) to pay a specified amount of money to another party (called the “payee”) on a certain date or upon demand. The type of promissory note at issue will determine which statute of limitation applies.

If the promissory note is “nonnegotiable”, then the payee must bring suit within six years after payment was due (or, if the payee has “accelerated” the note, then suit must be brought within 6 years after the date of acceleration.)

Nonnegotiable promissory notes can take several forms. Generally speaking, however, a promissory note is “negotiable” when the payee has the power to sell the note to another person, turning that person into a new payee who can then demand payment from the maker. So, a nonnegotiable promissory note is simply one that is not negotiable.

On the other hand, if the promissory note is negotiable, it will be subject to the Uniform Commercial Code (and not Title 15, Chapter 1, of the Mississippi Code. The U.C.C. states:

There are many factors to consider in determining which statute of limitation applies to a claim on a promissory note. If there is any doubt about the type of note involved, the best bet is to file suit within the shortest of the statutes of limitation.

That brings us to Section 15-1-49 of the Mississippi Code. The statute is sometimes referred to as the “general” or “catch-all” statute of limitation.

It is called this because it applies to every claim under Mississippi law that does not otherwise have its own, separate statute of limitation.

So, for example, the three-year statute of limitation applies to a wide-range of (but not all) claims for simple negligence (such as a car wreck), breach of written contract, premises liability, products liability, and many others.

The statute begins to run whenever the plaintiff’s claim has “accrued” (meaning that the plaintiff has the right to file a lawsuit).

There is an exception, however. If the claim is otherwise subject to the three-year statute of limitation, and if it involves latent injury or disease, the statute does not begin to run until the plaintiff has discovered, or by reasonable diligence should have discovered, the injury.

If you believe you have a claim, do not let the statute of limitation run. Contact the Panter Law Firm for a consultation. 601-607-3156.

Panter Law Firm, PLLC, 7736 Old Canton Road, Suite B, Madison, MS 39110.

www.craigpanterlaw.com

Craig Painter

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