A and B enter into a contract on January 1 of this year. A 's friend C tells A , "The law generally restricts the time within which an action can be brought by either party to a contract." C '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

Quizplus · Accepted Answer

The statement is true because of statutes of limitations, which set a time limit for bringing a legal action related to a contract. After the set time period, the right to sue is lost. This varies depending on the type of contract and jurisdiction.

A and B Enter into a Contract on January 1