How long am I bound to a contract?

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How long am I bound to a contract?

When does the clock begin to run on the statute of limitations on a written

contract? I know there is a 4 year statute but the contract specifies that the contract runs until my obligations have been met. Which takes priority? The statute, or the duration that is specified in the contract? How do I get out of a contract that is past the statute of limitations?

Asked on March 3, 2016 under Business Law, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

Actually, it's simple: the statute of limitations starts to run NOT when the contract is signed but when the contract is breached--that is, when a party fails to perform as required under the contract. The SOL has nothing to do with the duration of a contract: a contract's duration is what it says in the contract, or is necessarily implied from the terms of the contract (i.e. how long it will take to perform the contract)--it could be immediate, a day, a week, a month, a year, three years, or open-ended, etc.). The SOL is how long someone has to sue after the other side breached the contract.


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