Phillips & Jordan Investment Corp. v. Ashblue Co.

ARNOLD, Judge.

Defendant contends thq| the trial court erred in denying its motions for directed verdict and judgment notwithstanding the verdict because the statute of limitations barred plaintiffs claim as a matter of law. We disagree.

In general, the statute of limitations for a breach of contract is three years. G.S. 1-52. However, money lent pursuant to a verbal agreement, which fails to specify a time for repayment, is payable within a reasonable time. Helms v. Prikopa, 51 N.C. App. 50, 275 S.E. 2d 516 (1981). The statute of limitations does not begin to run until a reasonable time for…