Utah Code 70A-2a-506. Statute of limitations
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(1) An action for default under a lease contract, including breach of warranty or indemnity, must be commenced within four years after the cause of action accrued. By the original lease contract, the parties may reduce the period of limitation to not less than one year.
Terms Used In Utah Code 70A-2a-506
- Contract: A legal written agreement that becomes binding when signed.
- Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lease: means a transfer of the right to possession and use of goods for a term, in return for consideration. See Utah Code 70A-2a-103
- Person: means :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
(2) A cause of action for default accrues when the act or omission on which the default or breach of warranty is based is or should have been discovered by the aggrieved party, or when the default occurs, whichever is later. A cause for action of indemnity accrues:(2)(a) in the case of an indemnity against liability, when the act or omission on which the claim for indemnity is based is or should have been discovered by the indemnified party, whichever is later; or(2)(b) in the case of an indemnity against loss or damage, when the person indemnified makes payment thereof.(3) If 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 default or breach of warranty or indemnity, the other action may be commenced after the expiration of the time limit and within six months 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 that have accrued before July 1, 1990.