DE HB363 | 2013-2014 | 147th General Assembly

Status

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 7-0)
Status: Passed on July 22 2014 - 100% progression
Action: 2014-07-22 - Signed by Governor
Text: Latest bill text (Draft #1) [HTML]

Summary

Delaware common law currently permits contracting parties to effectively opt into a 20 year limitations period by entering into a contract under seal. Absent compliance with the requirements for a contract under seal, the statute of limitations for breach of contract claims is generally three years or, in the case of contracts governed by Article 2 of the Delaware UCC, four years. Subsection (c) gives clear statutory authorization to the parties’ freedom to contract beyond the three or four year statutory period without resorting to the use of a sealed instrument, as long as the contract involves at least $100,000 and is in writing. Examples of a "period" that may be specified in a written contract, agreement or undertaking would include, without limitation, (i) a specific period of time, (ii) a period of time defined by reference to the occurrence of some other event or action, another document or agreement or another statutory period and (iii) an indefinite period of time.

Tracking Information

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Title

An Act To Amend Title 10 Of The Delaware Code Relating To Contractual Limitation Periods.

Sponsors


Roll Calls

2014-07-01 - Senate - Senate Third Reading (Y: 18 N: 2 NV: 0 Abs: 1) [PASS]
2014-06-26 - House - House Third Reading (Y: 40 N: 0 NV: 0 Abs: 1) [PASS]

History

DateChamberAction
2014-07-22HouseSigned by Governor
2014-07-01SenatePassed by Senate. Votes: Passed 18 YES 2 NO 0 NOT VOTING 1 ABSENT 0 VACANT
2014-07-01SenateNecessary rules are suspended in Senate
2014-06-26HousePassed by House of Representatives. Votes: Passed 40 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT
2014-06-04HouseReported Out of Committee (JUDICIARY) in House with 5 Favorable, 4 On Its Merits
2014-05-29HouseIntroduced and Assigned to Judiciary Committee in House

Delaware State Sources


Bill Comments

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