Theilan and Wayland are merchants negotiating contract terms under a contract that will be governed by the UCC. What is the shortest possible statute of limitations for bringing a lawsuit based on breach of contract?
A) 10 days.
B) One month.
C) 18 months.
D) Three years.
E) Four years.

Question

Quizplus · Accepted Answer

Under the UCC, the statute of limitations for a breach of contract is generally four years, but parties can agree to reduce it to not less than one year. Therefore, 18 months is the shortest possible period among the given options.

Theilan and Wayland Are Merchants Negotiating Contract Terms Under a Contract