The running of the statute of limitations on a contract between Martha, the debtor, and Zelda, the creditor
A)extinguishes Martha's duty (the contract is void).
B)acts as an accord.
C)bars Zelda's remedy (the contract is unenforceable).
D)is unilateral performance.

Question

The running of the statute of limitations on a contract between Martha, the debtor, and Zelda, the creditor​
A)extinguishes Martha's duty (the contract is void).
B)acts as an accord.
C)bars Zelda's remedy (the contract is unenforceable).
D)is unilateral performance.

Quizplus · Accepted Answer

The running of the statute of limitations on a contract does not extinguish the debtor's duty under the contract but rather bars the creditor's remedy, making the contract unenforceable in a court of law.

The Running of the Statute of Limitations on a Contract