Rhode Island General Laws 6-51-5. Statute of limitations
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An action for default under an automobile lease or loan agreement, including breach of warranty or indemnity, must be commenced within two (2) years after the cause of action accrued. By the original lease or loan agreement the parties may reduce the period of limitation to not less than one year.
History of Section.
P.L. 2007, ch. 296, § 1.
Terms Used In Rhode Island General Laws 6-51-5
- Agreement: means a written contractual agreement between the merchant and the third-party delivery service. See Rhode Island General Laws 6-58-1
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC