Alfred is worried about a contract that may be breached by the other party. He is discussing it with his friend, Carl. Carl tells Alfred , "The law generally restricts the time within which an action can be brought by either party to a contract." Carl's statement is:
A) false.
B) true because of statutes of limitations.
C) true because of the law of repudiation.
D) true because of covenants not to sue.

Question

Alfred is worried about a contract that may be breached by the other party.  He is discussing it with his friend, Carl.  Carl tells Alfred , "The law generally restricts the time within which an action can be brought by either party to a contract." Carl's statement is:
A) false.
B) true because of statutes of limitations.
C) true because of the law of repudiation.
D) true because of covenants not to sue.

Quizplus · Accepted Answer

Carl's statement is true because of statutes of limitations, which set the maximum time after an event within which legal proceedings may be initiated.

Alfred Is Worried About a Contract That May Be Breached