Section 27 Statute of Limitations

• Library: Consumer Law and Practice 2010

Generally, a 10-year statute of limitations applies to actions on written contracts for the payment of money or property. Section 516.110, RSMo 2000. In the case of fraud, a 5-year statute of limitations applies from the date of discovery, except when the fraud is not discoverable during the 10-year period after its occurrence. Under § 516.120(5), RSMo 2000, the cause of action is then deemed to have accrued at the termination of the 10-year period, and the 5-year statute of limitations period begins to run from that time. See Anderson v. Dyer, 456 S.W.2d 808, 811 (Mo. App. S.D. 1970); Berry v. Dagley, 484 S.W.2d 182, 184-85 (Mo. 1972). The statute of limitations will begin to run when the fraud should have been discovered. Crawford v. Smith, 470 S.W.2d 529 (Mo. banc...