Asked by Kristina Singh on May 09, 2024
Verified
Which of the following characterizes the statute of limitations?
A) The time period fixed by the statute of limitations is uniform throughout the states.
B) The recording of the contract stops the running of the statute of limitations.
C) The time period fixed by the statute of limitations begins when the contract is recorded.
D) The time period for oral contracts is different from that of written ones.
Statute of Limitations
Legislation that establishes a deadline by which legal actions must be commenced following an incident.
Oral Contracts
Agreements that are made verbally and not recorded in a written document, but are still legally binding.
Written Ones
Documents or agreements that are formally inscribed or recorded in written form.
- Familiarity with the statute of limitations and how it pertains to disagreements in contract matters.
Verified Answer
TH
tionta hanleyMay 13, 2024
Final Answer :
D
Explanation :
The time period for bringing a contract action varies from state to state,and many states prescribe time periods for cases concerning oral contracts that are different from those for cases concerning written ones.
Learning Objectives
- Familiarity with the statute of limitations and how it pertains to disagreements in contract matters.
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