August 3, 2015
By: Ryan T. Emery
Perhaps you have seen commercials from personal injury law firms trying to convince you to call them immediately if you have been injured because your claim may be time-sensitive. While these firms are obviously trying to get your business, there is some truth in this type of statement. Virtually any claim you may have against an individual or entity has a “Statute of Limitations” attached to it, meaning the amount of time you have to commence a lawsuit before your claim is deemed time-barred.
These time periods apply not only in personal injury situations but in commercial situations as well. Every state has its own applicable Statute of Limitations so please consult with an attorney admitted in your particular state. For business owners in New York, listed below are some time periods (but not all) you should be aware of:
These are only some general guidelines for the various timelines but show how important it may be to act quickly if you think you have a claim. It is recommended that you do not rely solely on the information contained here as laws and the case law interpreting those laws consistently change. Always consult with a qualified attorney to discuss your options and determine the statute of limitations for your particular claim.