BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Statue of limitations
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Statue of frauds
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UCC ruling
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Court system
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Detailed explanation-1: -According to the Limitation Act of 1980, lawsuits founded on the law of tort (i.e., civil wrongs) or infringement must be filed within 6 years of the claim for damages arising, which is either the date of the act or omission or the date of the breach of contract, respectively.
Detailed explanation-2: -Law of limitation:-It states that the appeals against a decree or order can be filed in a High Court within ninety days and in any other court in thirty days from the date of the decree or order appealed against. It is for general welfare that a period be put on litigation.
Detailed explanation-3: -Article 113 of the Limitation Act, 1963 which states that a suit has to be filed within three years from arising of cause of action.
Detailed explanation-4: -The reason for non-applicability of the Section to suits is that, the period of limitation allowed in most of the suits extends from 3 to 12 years whereas in appeals and application it does not exceed 6 months.