Surviving the Statutes of Limitation: The Relationship Between Survival and Statute of Limitation Provisions | Practical Law
Parties often include survival provisions in their commercial contracts to address which contract provisions remain in force after the contract's term. Among other things, a survival provision can define the time limits for discovering or bringing a legal action after the contract has expired or terminated. This legal update discusses the relationship between survival provisions and contractual statutes of limitations for bringing legal actions related to the contract and outlines how some states differ in interpreting and enforcing these provisions.