Legal Question in Business Law in New York
Statute of limitations on contract?
Is there a determined statute of limitations on contracts between two people/business - if one is not determined in the contract itself? In other words, say a contract was signed in year X, and one side has not completed his obligations by the contract - is there are period of time after the other side can no longer sue for breach of contract?
4 Answers from Attorneys
Re: Statute of limitations on contract?
Yes, the statute of limitations for a breach of contract cause of action depends upon when the breach occurs. Sometimes it is difficult to determine when, exactly, the breach takes place. Therefore, it is important not to wait.
In California, the statute of limitations depends upon whether the contract is written or oral. If written, the statute is 4 years, while if oral, only two years.
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Re: Statute of limitations on contract?
Yes, but every state is different.
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Re: Statute of limitations on contract?
Two years for an oral contract (CCP section 339), and Four years for a written agreement
[CCP section 337).
Re: Statute of limitations on contract?
Thank you for your inquiry. This response is to a general inquiry, is for informational purposes only, and should not be construed as legal advice.
Pursuant to Section 201 et. seq. of the NYCPLR, the statute of limitations for most breach of contract actions in New York, whether the contract was written or oral, is six (6) years.
Thank you again for your question.
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