If you have a dispute with a party over a contract you’ve signed, it’s wise for multiple reasons to at least start exploring your options for legal recourse sooner rather than later. One of these reasons is statute of limitations laws.
Statutes of limitations are designated deadlines by which a plaintiff is required to at least begin legal action if they believed they’ve been wronged and want to seek compensation or other type of resolution for the harm they’ve suffered. These apply to a number of types of civil actions, including breach of contract. Note that a matter doesn’t have to be resolved within the statute of limitations.
Why statute of limitations laws exist
The purpose of state of limitation laws is to allow a defendant to be aware of the alleged harm and have an opportunity to address the allegation within a reasonable period. By allowing a defined period, both plaintiffs and defendants also have a better chance of being able to locate evidence, including witnesses and documents. Their own recollections are also fresher in their mind.
The statute of limitations generally begins when a plaintiff knows (or should have known) that they suffered some type of harm. The next step for the plaintiff should be to get legal guidance so they can then determine whether legal action is warranted.
Florida’s statutes of limitations for contract and other disputes?
Florida has different statutes of limitations based on the type of contract. It’s five years for written contracts, four years for oral contacts and one year for specific performance contracts. Other types of civil actions have their own statutes of limitations. For example, professional malpractice (not including medical malpractice) is four years, as are fraud and personal and property injury. Libel and slander are both two years.
These are generally not unreasonable time periods in which to recognize harm and even to try to work things out with another party on your own. However, as noted, it’s always wise to at least consult with a legal professional before too much time passes to help protect your rights and your business or other interests.