The State of Idaho Has a Two-Year Statute of Limitations

question 82

Multiple Choice

The state of Idaho has a two-year statute of limitations for personal injury actions. Graham was injured by Alice in a car accident on January 1, 2011. If Graham wants to bring a lawsuit against Alice on January 15, 2013, which of the following is most likely to be the outcome?

• A) Graham is allowed to sue Alice after appealing for an extension of the statute of limitations.
• B) Graham is not allowed to sue Alice, having lost his right to sue her.
• C) Graham can sue Alice but will not receive damages.
• D) Graham can sue Alice but is not entitled to a jury trial.

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Definitions:

Balance Sheet

A financial document that outlines the resources, obligations, and shareholder equity of a company at a given point, showing its economic condition.

Capital

Financial assets or the financial value of assets, such as cash and goods, used by a business to generate income.

Stockholders

People or organizations holding one or more shares in a corporation, thereby having partial ownership of the business.

Legal Capital

The minimum amount of capital that a company is required to maintain by law, often used to protect creditors and shareholders.