Do claims also have a period of prescription? What happens when the extinctive prescription of a claim expires?

A claim, too, once a certain period of time passes, may legally cease to exist under the extinctive prescription.

As you have described, where money has been lent to a friend over a long period and has not been recovered, whether the prescription has been completed becomes an important factor.

Extinctive prescription is a system whereby, if a creditor does not exercise a right for a long period even though the right could have been exercised, that claim is no longer protected by law.

Under Articles 162 to 165 of the Civil Act, the period of extinctive prescription for a claim varies as follows.

General civil claims (monetary transactions between individuals): 10 years
Commercial claims (business-related monetary transactions): 5 years
Claims for interest paid periodically within one year: 3 years
Claims confirmed by a final judgment or the like: 10 years

In addition, under Article 164 of the Civil Act, the following claims are subject to a one-year extinctive prescription.

1. Claims for accommodation charges, food and drink charges, seat-rental charges, admission fees, the price of consumable goods, and advance disbursements of inns, restaurants, seat-rental establishments, and entertainment venues
2. Claims for the rental charges of clothing, bedding, gear, and other movable property
3. Claims for the wages of laborers and entertainers and for the price of goods supplied to them
4. Claims of school proprietors, lodging providers, and teachers concerning the education, board, and lodging of students and trainees

In this case, the extinctive prescription begins from the day on which the creditor can exercise the right, that is, from the due date of performance or the date of the demand.

For example, if you lent money to a friend without setting a separate deadline, you may consider that the extinctive prescription runs from the date on which you requested repayment.

In your case, although you said about seven to eight years have passed, if it was a monetary transaction between individuals, it is highly likely to constitute a general civil claim, so if ten years have not yet passed, there is still a possibility of making a claim.

However, because the precise starting point of the prescription may vary depending on the date of the loan, whether repayment was demanded, and the content of the conversations, it is advisable to obtain a specific assessment through consultation with an expert.