Which of the Following Statements Is True of the Statute

question 79

Multiple Choice

Which of the following statements is true of the statute of limitations?

• A) It limits the time within which all types of civil actions may be brought.
• B) It limits the types of civil actions that may be brought to court.
• C) In most states, it permits lawsuits only when intentional torts have been committed.
• D) If the injured party is a minor, it permits the parent or guardian to bring a civil action suit.

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Definitions:

Accrued Interest

Interest that has accumulated over a period of time but has not yet been paid.

Merchandise Sale

The transaction of selling goods that are purchased for resale by a business.

Promissory Note

A financial instrument containing a written promise by one party to pay another party a definite sum of money either on-demand or at a specified future date.

Promissory Note

A financial document in which one party promises in writing to pay a determinate sum of money to the other, either at a fixed or determinable future time or on demand of the payee, under specific terms.