Period of Limitations Clause Example from Business Contracts

Period of Limitations. No legal action shall be brought and no cause of action shall be asserted by or in the right of Indemnitor against Indemnitee, Indemnitee's spouse, heirs, executors or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action, and any claim or cause of action of Indemnitor shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such two-year period; provided, however, that if any shorter pe...riod of limitations is otherwise applicable to any such cause of action such shorter period shall govern. View More