Asked by Christine Dawson on May 08, 2024
Verified
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.
Statutes Of Limitations
Laws that set the maximum time after an event within which legal proceedings may be initiated.
Law Of Repudiation
The legal doctrine concerning the refusal of a party to honor a contract, which can result in the contract being voided and possible damages awarded for breach of contract.
- Familiarize oneself with the legal principles related to ending contracts through breaches.
Verified Answer
NS
Nathan SpencerMay 14, 2024
Final Answer :
B
Explanation :
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.
Learning Objectives
- Familiarize oneself with the legal principles related to ending contracts through breaches.