The Statute of Limitations in a Tort Action for Malpractice

question 24

Multiple Choice

The statute of limitations in a tort action for malpractice runs from:

• A) the date when the harm occurs.
• B) the date when the harm is discovered.
• C) the date when the plaintiff determines the total amount of damages caused by the harm.
• D) either the date when the harm occurs or when it is discovered,depending on the type of damages sustained.

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Definitions:

Common Stock

A type of equity security that represents ownership in a corporation, giving shareholders voting rights and a share in the company's profits via dividends.

Premium on Bonds Payable

The amount by which the bond's selling price exceeds its face value.

Paid-In Capital

The amount of money raised by a company in exchange for shares of its stock, including both the par value of the stock and amounts in excess of par value.

Contract Rate of Interest

The contract rate of interest is the fixed interest rate specified in a debt instrument or loan agreement that the borrower must pay to the lender.