What if you are a client of a real estate company and after reading about the ERA case, you wish to sue the company for the same sort of tactics that took place many years ago. You may face the problem of the Limitation Act.
This statute places a time limit of 6 years for most contract claims. You have 6 years to sue from the time the cause of action accrued (your right to sue arose). A cause of action accrues when the other party fails to do what he promised. For example, if there was a promise to pay by 31 January 2009, and this promise is not kept, then the cause of action accrues the next day.
In the ERA case or a similar situation, the cause of action would accrue when the plaintiffs entered into a contract to sell their property to a party related to the agent.
What if your transaction took place more than 6 years ago? The Limitation Act has exceptions where you can sue more than 6 years later if there is fraud (deceitful conduct by the other party). If the amount of money involved is substantial, do consult your lawyer.
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