New York Statute of Limitations - 6 Years
This is what I found for New York.
New York Statutes of Limitation
N. Y. Civil Practice Law and Rules: Chapter Eight of the Consolidated Laws, Article 2 - Limitations of Time:
211. Actions to be commenced within twenty years. (a) On a bond. (b) On a money judgment. (c) By state for real property. (d) By grantee of state for real property. (e) For support, alimony or maintenance.
212. Actions to be commenced within ten years. (a) Possession necessary to recover real property. (b) Annulment of letters patent. (c) To redeem from a mortgage.
213. Actions to be commenced within six years: where not otherwise provided for; on contract; on sealed instrument; on bond or note, and mortgage upon real property; by state based on misappropriation of public property; based on mistake; by corporation against director, officer or stockholder; based on fraud.
213-a. Actions to be commenced within four years; residential rent overcharge.
213-b. Action by a victim of a criminal offense.
214. Actions to be commenced within three years: for non- payment of money collected on execution; for penalty created by statute; to recover chattel; for injury to property; for personal injury; for malpractice other than medical or dental malpractice; to annul a marriage on the ground of fraud.
UCC, Section 2--725. Statute of Limitations in Contracts for Sale. (1) An action for breach of any contract for sale must be commenced within four years after the cause of action has accrued. By the original agreement the parties may reduce the period of limitation to not less than one year but may not extend it. (2) A cause of action accrues when the breach occurs, regardless of the aggrieved party`s lack of knowledge of the breach. Contract for lease of goods: 4 years (N. Y. U.C.C. 2-A-506(1).
S 203. Method of computing periods of limitation generally. (a) Accrual of cause of action and interposition of claim. The time within which an action must be commenced, except as otherwise expressly prescribed, shall be computed from the time the cause of action accrued to the time the claim is interposed.
Definition of statute of limitations:
The statute of limitations on debt in New York limits the time you can be sued for a debt.
Oral Contract: 6 years - Definition: An oral contract is an agreement that was made verbally. No contract was written or signed when the agreement was made. Oral contracts are legally binding, but they are harder to prove in court.
Written Contract: 6 years - Definition: A written contract is an agreement made on a printed document that has been signed by both the lender and the borrower. Written contracts are legally binding and easier to enforce than oral contracts.
Promissory Note: 6 years - Definition: A promissory note is a written contract that includes a specific promise to pay. The promissory notes include the interest rate, repayment schedule, and consequences of default.
Open-Ended Accounts: 6 years - Definition: An open-ended account is an account that has a varying, revolving balance. A credit card is an example of an open-ended account.
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