Previously, Delaware law provided for a three year statute of limitations for breach of contract claims (Section 8106 of Title 10) and for a four year statute of limitations for breach of contracts governed by Article 2 of the Delaware UCC (Section 2-275 of Title 6). Instead, parties could opt into a 20 years limitations period for breach of contract claims by entering into a contract under seal under common law.
Reminder: Delaware Law Changes Are in Effect
By: Thomas H. Yang
© 2024 Akin Gump Strauss Hauer & Feld LLP. All rights reserved. Attorney advertising. This document is distributed for informational use only; it does not constitute legal advice and should not be used as such. Prior results do not guarantee a similar outcome. Akin is the practicing name of Akin Gump LLP, a New York limited liability partnership authorized and regulated by the Solicitors Regulation Authority under number 267321. A list of the partners is available for inspection at Eighth Floor, Ten Bishops Square, London E1 6EG. For more information about Akin Gump LLP, Akin Gump Strauss Hauer & Feld LLP and other associated entities under which the Akin Gump network operates worldwide, please see our Legal Notices page.