Can I get paid on a breach of contract that is over 7 years old?
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Can I get paid on a breach of contract that is over 7 years old?
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I have a contract for an agreement for payment in return for work. Payment was to be in stock options. The contract was back in march 2001. There is a clause in the contract: "This agreement expires one year from the effective date of this agreement or upon 30 days written notice by either party." I tried to get renumeration within that 1 year period on two occasions. They did not comply. Can I seek damages now? I did not seek legal action at that time because the company was not worth anything.
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the contract was in texas.
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Princess Leia
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1. The contract was in Texas but what does the contract say about choice of law? Is it for Texas or for another state? If another state, then you need to find out that state's statute of limitations.
2. According to this site -
http://www.acollectionagency.com/statuteoflimitations/texas.php
- the statute of limitations on a written contract is 4 years in Texas (and yes, although the site focuses on collections, it doesn't matter that your case might not be considered a "collections" case because the statute of limitations relates to written contracts in general).
3. Additional information about statute of limitations can be found here:
http://www.expertlaw.com/library/limitations_by_state/Texas.html
and
http://www.expert-credit-advice.com/statute_of_limitations.htm
It says a written contract is 4 years....
So, if the choice of law is Texas, you are out of luck for a breach of contract cause of action.... |
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S&S
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It depends upon the statute of limitations in your state. In California, it is 4 years from the date of the breach, so the answer here would be no, you cannot get paid on a breach of contract that is over 7 years old.
Just do a Google search for "statute of limitations, your state," and you should be able to get your answer. |
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kapn
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To late..........should have went after them within the year....so stated....... |
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CkBusiness19
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You need to find out the statute of limitations in your state for filing a lawsuit against a breached contract. Most attorneys can tell you what the statute of limitations is, or you can research your state's laws to find out. |
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Doctor Deth
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kind of late to worry about it now |
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