A debtor signs a written promise to pay a debt after the statute of limitations has run. Which statement about the enforceability of that promise is correct in most jurisdictions?

• A. The promise is unenforceable because no new consideration is present.
• B. The promise is enforceable only if there is new consideration.
• C. The promise is enforceable if it is in writing and signed by the debtor even though it was made after the limitation period.
• D. The promise is enforceable only if the creditor agrees to suspend the limitation period.

Answer: (C)

A debt that has run out under the statute of limitations can be revived by a written promise to pay that is signed by the debtor. This written, signed promise restarts the time for enforcing the debt, so the creditor can sue again within the new period. Importantly, no new consideration is needed for this revival, and the creditor doesn’t need to agree to toll or suspend the period—the debtor’s own written promise suffices to bring the claim back to life.