What is Statute of Limitations? Legal deadline for filing lawsuit. Miss this deadline and you lose your right to sue, even if you have a valid claim. Typical Timeframes Written contracts: 4-6 years (varies by state) Oral contracts: 2-3 years (shorter than written) UCC sales contracts: 4 years from breach Breach of warranty: 4 years from delivery When Clock Starts Generally begins when breach occurs or is discovered. Some states use "discovery rule" where clock starts when you discover (or should have discovered) the breach. Implications Document breaches immediately, don't delay in asserting rights, and written contracts provide longer protection periods.