statute of limitations for contract violation?? Please help

[kunoichi]

I am trying to find out details on the statute of limitations for contract violation/breach of contract (in general, but specifically for the state of illinois). I understand it to be 4 years (?) Here are my questions:

Do these 4 years begin:
1.) from the moment the contract was signed,
2.) 4 years from the moment the contract was violated, or
3.) 4 years from the "performance" or completion of the contract?

And also, am I within my 4 year time allowance if I simply file within 4 years, or must the company be actually served within the 4 years?

Any help would be appreciated. I can't find the statutes pertaining to this.

Down to the wire I am!!

 

[I AM ALWAYS LIABLE]

I am trying to find out details on the statute of limitations for contract violation/breach of contract (in general, but specifically for the state of illinois). I understand it to be 4 years (?) Here are my questions:

Do these 4 years begin:
1.) from the moment the contract was signed,
2.) 4 years from the moment the contract was violated, or
3.) 4 years from the "performance" or completion of the contract?

And also, am I within my 4 year time allowance if I simply file within 4 years, or must the company be actually served within the 4 years?

Any help would be appreciated. I can't find the statutes pertaining to this.

Down to the wire I am!!

My response:

I don't know where you got 4 years from, but assuming a written contract (it wasn't clear from your post), your Statute of Limitations in Illinois is a whopping 10 years. It's 6 years on an oral contract.

The time begins to tick from the date of the Breach. You would "stop the clock", as it were, the moment your Summons and Complaint are filed with the court. Then, another time period kicks in (see your court rules) for the length of time you have to actually serve the defendant with the Summons and Complaint.

Your Statutes in regard to the S.O.L. are :

735 Ill. Comp. Stat. 5/13-201 et. seq.

Take special note of the "et. seq." part.

Good luck to you.

IAAL

 

[loku]

Following in pertinent part, are the statutes that apply in Illinois to the statute of limitations on contracts. Note that the statute is 5 years on unwritten contracts, and 10 years on written contracts. What the time limit means is that you must “commence” an action within the time period. That means you must file the action within that period. The period starts to run when the cause of action accrued. In the case of a contract, that would be at the time the breach occurred.


(735 ILCS 5/13-205)Sec. 13-205. Five year limitation. … actions on unwritten contracts, expressed or Implied … shall be commenced within 5 years next after the cause of action accrued.

(735 ILCS 5/13-206)Sec. 13-206. Ten year limitation. … actions on written contracts shall be commenced within 10 years next after the cause of action accrued; but if any payment or new promise to pay has been made, in writing, on any bond, note, bill, lease, contract, or other written evidence of indebtedness, within or after the period of 10 years, then an action may be commenced thereon at any time within 10 years after the time of such payment or promise to pay. …

You can find the law at: http://www.legis.state.il.us/ilcs/ch735/ch735act5articles/ch735act5Sub80.htm

 

[I AM ALWAYS LIABLE]

My response:

Thanks for the correction, Loku. My finger must have slipped.

IAAL