Running a business brings a lot of dangers. One or two risky investments and we are falling into a spiral of debt. Before you start paying off your debt, it’s worth checking to see if you really have to pay it back. The statute of limitations is a traditional civil law institution. It is regulated by the Civil Code in art. 117-125. Pursuant to legal regulations, the general limitation period is ten years. For claims for periodic benefits, such as interest or rent, and for claims related to running a business, this period is three years.
Taking care of your finances
Don’t be afraid, ask for advice. We will help you solve your problem. The three-year period for limitation of economic claims is of little importance, since various types of contracts prevail in economic activity and they may be time-barred in a shorter period.
Sales contracts, as well as claims for remuneration not paid on time, expire after two years. The six-month limitation period includes in the case of a claim by the borrower for the issue of the loan (counting from the time when the object was to be issued), as well as in the case of a claim due to the carrier against other carriers. The limitation period begins from the date on which the claim is due.
During the limitation period
There may be events causing its suspension or interruption. Suspension in the following cases. As to the claims of children against parents – for the duration of parental responsibility. As for claims that are due to children who do not have full legal capacity against persons in charge of guardianship or guardianship – for the duration of the guardianship; As to the claims of one of the spouses against the other – for the duration of the marriage.
As for all claims
If the injured party cannot assert his rights due to force majeure. The limitation period is interrupted by any action before a court or other body appointed to hear cases or enforce claims, or by accepting claims by the person against whom the claim is due. It should be remembered that after each interruption, the limitation period runs again.