What is the statute of limitations for a borrower to bring a usury claim under California law?
Correct Answer
A) Two years from the date the usurious interest was paid
Under California law, the statute of limitations for a usury claim is two years from the date the usurious interest was paid. This applies to the borrower's action to recover interest paid and treble damages.
Why This Is the Correct Answer
Under California law, the statute of limitations for a usury claim is two years from the date the usurious interest was paid. This applies to the borrower's action to recover interest paid and treble damages.
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