2006 Minnesota Statutes

336.2A-506 STATUTE OF LIMITATIONS.
(1) An action for default under a lease contract, including breach of warranty or indemnity,
must be commenced within four years after the cause of action accrued. If the lease contract is
not a consumer lease, the parties may reduce the period of limitation to not less than one year in
the original lease contract.
(2) A cause of action for default accrues when the act or omission on which the default or
breach of warranty is based is or should have been discovered by the aggrieved party, or when
the default occurs, whichever is later. A cause of action for indemnity accrues when the act or
omission on which the claim for indemnity is based is or should have been discovered by the
indemnified party.
(3) If an action commenced within the time limited by subsection (1) is so terminated as
to leave available a remedy by another action for the same default or breach of warranty or
indemnity, the other action may be commenced after the expiration of the time limited and within
six months after the termination of the first action unless the termination resulted from voluntary
discontinuance or from dismissal for failure or neglect to prosecute.
(4) This section does not alter the law on tolling of the statute of limitations nor does it apply
to causes of action that have accrued before this article becomes effective.
History: 1989 c 232 art 1 s 2A-506