The IOU has expired. Can it still be used?

If the IOU expires, it is still valid, but the debtor can raise the defense of non-performance, and the creditor can only safeguard his legitimate rights and interests through self-help means such as negotiation and mediation. If the debtor does not raise a defense in the lawsuit, the creditor can still obtain a successful judgment.

legal ground

Article 188 of the Civil Code

The limitation period for requesting protection of civil rights from the people's court is three years. Where there are other provisions in the law, those provisions shall prevail.

The limitation period of action shall be counted from the date when the creditor knows or should know that the right is damaged and the debtor knows it. Where there are other provisions in the law, those provisions shall prevail. However, the people's court shall not protect the rights that have been damaged for more than 20 years. Under special circumstances, the people's court may decide to extend the time according to the application of the obligee.

Article 192

If the limitation of action expires, the debtor may raise the defense of non-performance.

After the expiration of the limitation period of action, if the debtor agrees to perform it, it shall not defend itself on the grounds of the expiration of the limitation period of action; If the debtor voluntarily performs, it may not request the return.

Article 193

The people's court shall not take the initiative to apply the statute of limitations.