Is there a time limit for borrowing money?

Legal analysis: IOU is a kind of contract, which has a time limit and is limited by the three-year short-term statute of limitations.

The validity period of IOUs is divided into the following situations:

1, agreed repayment date, no collection after the expiration, and the limitation of action is three years after the expiration;

2. There is no agreed repayment period, and the limitation of action is three years from the last collection;

3. If the loan term exceeds 20 years, the court will not protect it.

IOU is a kind of contract, and the limitation of action starts from the time when the right is infringed. If the repayment period is agreed and the creditor's rights are infringed, the limitation of action will begin. If there is no agreed repayment period, when the debtor wants to claim repayment, the limitation of action begins to calculate. But at the same time, according to the law, the court does not protect the rights for more than 20 years.

Legal basis: Article 188 of the Civil Code of People's Republic of China (PRC) requests the people's court to protect civil rights for three years. Where there are other provisions in the law, such provisions shall prevail. The limitation period of action shall be counted from the day when the obligee knows or should know that the right has been damaged and the obligor knows it. Where there are other provisions in the law, such provisions shall prevail. However, if more than 20 years have passed since the right was damaged, the people's court will not protect it. Under special circumstances, the people's court may decide to extend it according to the application of the obligee.