While no business owner likes to think about being sued or having to file a lawsuit, the unfortunate truth is that most companies will be a party to a civil lawsuit at some point. Because the reality is that litigation is a cost of doing business, business owners should know that there are hard deadlines for filing civil lawsuits in business-related matters. These deadlines, or statutes of limitation, differ according to the type of claim involved. If you have any type of business claim and fail to abide by the appropriate deadline, then you are likely barred by law from further pursuing that claim.
Breach of contract claims are a common type of lawsuit that arise out of business operations. For example, a business often has a contract with a vendor to provide it with certain supplies necessary to do business. Or a business may contract with a customer to provide products or services. Breach of contract lawsuits, like any lawsuit, must be timely filed. Under Arizona law, the statute of limitations for oral breach of contract is three years, and for written breach of contract, six years. If the contract pertains to the sale of goods, the statute of limitations is four years. Claims for breach of employment contracts, such as a claim for unpaid wages, are governed by a one year statute of limitation.
Arizona statutes also govern consumer fraud, which occurs when a seller or advertiser of goods or services suppresses, conceals, or fails to disclose a material fact through deception, or makes a false statement, a false pretense, a false promise, or a misrepresentation. The statute of limitations for consumer fraud, which is a legal claim created by statute, is one year.
Other business related statutes of limitation include fraud (three years), defamation (one year), and interference with contract (two years).
These are just a few examples of the statutes of limitation that might apply to your business operations under Arizona law. When you are facing any type of business dispute, you need an experienced Arizona business attorney who not only can advise you of the statute of limitations pertaining to your case, but also can advocate for your interests from the outset of your case. We are here to examine the facts concerning your case, consider your options, and build the strongest case possible. Contact Williams Commercial Law Group, L.L.P., at (602) 256-9400 today, and set up an appointment to speak with us about your case.