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Tolling Agreement Pennsylvania

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First, the agreement of the parties itself may provide for a different limitation period. In other words, the contract may provide for a limitation period of less than four years and such a contractual limitation…

First, the agreement of the parties itself may provide for a different limitation period. In other words, the contract may provide for a limitation period of less than four years and such a contractual limitation period may be legally binding. Pennsylvania Commercial Code at 13 Pa.C.S.A. Article 2725 provides that “the parties may, by means of the original agreement, reduce the limitation period to at least one year, but may not extend it”. Therefore, before it can rely on the assumption that it can wait up to four years before filing an infringement complaint, the company must first ensure that the contract does not provide for a shorter period. On the other hand, in a dispute, this “discovery phase” can be costly, frustrating and time-consuming. Thus, a toll agreement may offer a potential plaintiff the opportunity to both save money and obtain more information from the defendant than they would otherwise be willing to offer. In the action brought in Morse, the applicant concluded in 2008 with Fisher Asset Management (Fisher) a contract for investment advisory services. The contract contained a provision that all disputes, claims or controversies arising from the agreement between the parties will be decided by arbitration. In June 2009, the complainant filed a complaint against Fisher and two of his associates in the Allegheny County Court of Common Pleas, in which he had alleged a breach of the trust obligation, breach of contract, negligence and other claims.

Since the agreement is more likely under the toll agreement, the parties enjoy the benefits of litigation (threat of a possible cash judgment against the defendant) without actually incurring litigation and incurring costs. Similarly, fraudulent concealment could serve as a basis for prescription. As a general rule, the deception of a means is time-barred until the means is discovered by the applicant or it could have been discovered by the exercise of due diligence. . . .

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