Citizens Bank v. Teel

OPINION

RANSOM, Justice.

On November 6, 1986, Citizens Bank of Clovis (Citizens Bank) sued Teel on a note dated September 17, 1979, payable after 60 days in the principle amount of $53,228.44. At issue is whether suit was barred by the six-year statute of limitations, NMSA 1978, Section 37-1-3. The statute would have run on November 16, 1985, unless revived by an admission of the unpaid debt contained in a judgment approved by Teel’s attorney in a prior quiet title action. See NMSA 1978, § 37-1-16, set out below in pertinent part. The trial court granted Teel’s motion to dismiss for failure to…