Question

What is the limitation period for enforcing the right by the aggrieved party in case of a simple contract?

• A. 3 years
• B. 3 months
• C. 6 years
• D. 6 months

Answer 1

The correct option is A 3 years

An agreement which provides that a suit should be brought for the breach of any terms or agreement within a time shorter than the period of limitation prescribed by law is void. The effect of such an agreement is absolutely necessary to restrict the parties from enforcing their rights after the expiration of the stipulated period, though it may be within the period of the limitation. According to the Limitation Act, 1963, an action for breach of contract may be brought within three years from the date of the breach.