Plaintiff and defendant enter into an agreement in which the plaintiff licenses the defendant to resell goods

Question:

Plaintiff and defendant enter into an agreement in which the plaintiff licenses the defendant to resell goods for the plaintiff. There is a fee of $419,000 in order for the defendant to obtain this license. A dispute arises over the fee among other issues and plaintiff sues the defendant in part for non-payment of this fee. The suit is brought more than four years after the cause of action arose but less than six years. The significance of these time periods is that the UCC mandates a statute of limitations of four years while common law in New York state is six years. Which applies: the UCC or Common Law?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question

Dynamic Business Law The Essentials

ISBN: 9781260253382

5th Edition

Authors: Nancy Kubasek, M. Neil Browne, Daniel Herron, Lucien Dhooge, Linda Barkacs

Question Posted: