2014 New Mexico Statutes
Chapter 37 - Limitation of Actions; Abatement and Revivor
Section 1 Limitations of Actions
Section 37-1-3 Notes; written instruments; judgments of courts not of record; period of limitation; computation of period.
37-1-3. Notes; written instruments; judgments of courts not of record; period of limitation; computation of period.
A. Those founded upon any bond, promissory note, bill of exchange or other contract in writing, or upon any judgment of any court not of record, within six years.
If the payee of any bond, promissory note, bill of exchange or other contract in writing or upon any judgment of any court not of record, enters into any contract or agreement in writing to defer the payment thereof, or contracts or agrees not to assert any claim against the payor or against the assets of the payor until the happening of some contingency, the time during the period from the execution of such contract or agreement and the happening of such contingency shall not be included in computing the six-year period of limitation above provided.
B. Those against any banking or financial organization subject to the provisions of the Uniform Disposition of Unclaimed Property Act [Unclaimed Property Act (1995) (Chapter 7, Article 8A NMSA 1978)] founded upon a bill of exchange, within ten years.
C. Those founded upon a traveler's check, within fifteen years.
History: Laws 1880, ch. 5, 3; C.L. 1884, 1862; C.L. 1897, 2915; Code 1915, 3348; C.S. 1929, 83-103; Laws 1939, ch. 89, 1; 1941 Comp., 27-103; 1953 Comp., 23-1-3; Laws 1975, ch. 70, 1.
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