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]
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.
Title
An Act To Amend Title 10 Of The Delaware Code Relating To Contractual Limitation Periods.
Sponsors
Rep. Rebecca Walker [D] | Rep. Melanie Smith [D] | Sen. Patricia Blevins [D] | Sen. Margaret Henry [D] |
Sen. Bryan Townsend [D] | Sen. Charles Paradee [D] | Rep. Charles Potter [D] |
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]
2014-06-26 - House - House Third Reading (Y: 40 N: 0 NV: 0 Abs: 1) [PASS]
History
Date | Chamber | Action |
---|---|---|
2014-07-22 | House | Signed by Governor |
2014-07-01 | Senate | Passed by Senate. Votes: Passed 18 YES 2 NO 0 NOT VOTING 1 ABSENT 0 VACANT |
2014-07-01 | Senate | Necessary rules are suspended in Senate |
2014-06-26 | House | Passed by House of Representatives. Votes: Passed 40 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT |
2014-06-04 | House | Reported Out of Committee (JUDICIARY) in House with 5 Favorable, 4 On Its Merits |
2014-05-29 | House | Introduced and Assigned to Judiciary Committee in House |