[Previous] [Next]
§12A-2-725.
§12A-2-725.
(1) An action for breach of any contract for sale must be commenced
within five (5) years after the cause of action has accrued. By the
original agreement the parties may reduce the period of limitation to
not less than one (1) year but may not extend it.
(2) A cause of action accrues when the breach occurs, regardless of
the aggrieved party's lack of knowledge of the breach. A breach of
warranty occurs when tender of delivery is made, except that where a
warranty explicitly extends to future performance of the goods and
discovery of the breach must await the time of such performance the
cause of action accrues when the breach is or should have been
discovered.
(3) Where an action commenced within the time limited by subsection
(1) is so terminated as to leave available a remedy by another action
for the same breach such other action may be commenced after the
expiration of the time limited and within one (1) year after the
termination of the first action unless the termination resulted from
voluntary discontinuance or from dismissal for failure or neglect to
prosecute.
(4) This section does not alter the law on tolling of the statute of
limitations nor does it apply to causes of action which have accrued
before this act becomes effective.
[Previous] [Next]