Vermont Statutes Title 9 Sec. 4-111
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Terms Used In Vermont Statutes Title 9 Sec. 4-111
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
§ 4—111. Statute of limitations
An action to enforce an obligation, duty, or right arising under this article must be commenced within three years after the cause of action accrues. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)