Even If a Cause of Action Is Not Caught by Any

question 1

True/False

Even if a cause of action is not caught by any statutory limitation period, a plaintiff who waited many years before attempting to sue may be prevented from doing so by the equitable doctrine of laches.

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Definitions:

Biological Asset

Living plants or animals that companies hold for sale, into agricultural produce, or into additional biological assets.

IAS 41

An international accounting standard that relates to agriculture, covering the accounting for agricultural activity and the management of living plants and animals.

Agricultural Produce

The harvested product of the entity’s biological assets.