Statute of Limitations for Business Disputes in California
No matter what stage in the growth cycle your company is currently operating in, business litigation is almost inevitable. The best way to weather rough roads ahead is through ample preparation. It is also essential to have someone who understands your company’s background and can help you save time and money in the long-run.
Working with a business law attorney in California who understands your unique needs may be helpful. Here are a few critical deadlines regarding limitations to file a lawsuit on specific claims.
California Commercial and Business Litigation Lawsuits Have Time Limits
Statutes of limitations are rules that set a final due date for submitting lawsuits and other civil actions. These due dates will differ depending on the issues requiring litigation. The "time clock" on lawsuits begins to tick on the date of the incident or the finding of damages. Some statutes of limitations that apply to California’s business litigation disputes include:
Libel/Slander: Occurs when an entity says or writes something untrue about another, and it causes some form of harm. This violation carries a one-year statute of limitations.
Fraud: Fraud is a deliberate deception that gives someone an unfair advantage and deprives another of their rights. Fraud carries a three-year statute of limitations.
Damage to Private Property: As it sounds, damage to one’s personal property without retribution is undoubtedly actionable. There is a three-year statute of limitations
Professional Malpractice: Professional malpractice occurs when a licensed, specialized individual, business, or hospital did not meet the standard of counsel or care. There is a one-year statute of limitations.
Breach of Contract: A breach of contract claim is a legally binding agreement between two parties that was violated by one or both groups. If the contract is in writing, the statute of limitations is four years.
Collection of Debt: When someone owes you money, payment is in order. You can file a debt collection lawsuit within four years of the debt going into default.
Lawmakers created the statute of limitations to foster equality and viability when it comes to filing suits in the United States. Individuals and companies do not have to live with a lawsuit hanging over their heads indefinitely, and the injured party has an ample amount of time to decide whether he or she should file a claim. The statute of limitations in California aims to satisfy both needs.
Consider Hiring a California Business Law Attorney
Regardless of the depth or scope of the disagreement, your business law attorney is on your side. Plus an established relationship may be able to create efficiencies in the long run. Your attorney will also be able to understand the critical legal needs of your organization.
At De Cárdenas Law Group, it is our mission to see you succeed in every legal aspect of your business. Please allow us to show you how we can help your business stay compliant with our legal services. You can schedule a meeting with our legal team in San Francisco or South Pasadena by calling (626) 577-6800.