jcb
always emerging from hibernation
- Joined
- Apr 28, 2007
On today's podcast, Pete questioned why Nye waited some nine years (from 2008 to 2017) to file his "Hollywood accounting" lawsuit.
California generally requires breach of written contract claims be filed within 4 years of the breach. I assume (don't know) that Nye's lawsuit was subject to this four year limitations period. The trick is to define when the breach occurred. For example, in cases where the lawsuit concerns payments due on an "account" " the time shall begin to run from the date of said item."
The lawsuit also recounts (Nye's perspective) that when (in early 2014) Nye demanded an accounting, Disney said that it was backlogged with other audits and that it would be "three to four years" before Nye could audit the books, finally offering to start the audit in May 2016.
Finally, the lawsuit alleges Nye and Disney entered into a "tolling agreement" which is a written agreement where one party agrees that it will not assert a statute of limitations defense in exchange for the other party delaying the filing of a lawsuit. Tolling agreements usually apply to time limits that have not yet expired.
California generally requires breach of written contract claims be filed within 4 years of the breach. I assume (don't know) that Nye's lawsuit was subject to this four year limitations period. The trick is to define when the breach occurred. For example, in cases where the lawsuit concerns payments due on an "account" " the time shall begin to run from the date of said item."
The lawsuit also recounts (Nye's perspective) that when (in early 2014) Nye demanded an accounting, Disney said that it was backlogged with other audits and that it would be "three to four years" before Nye could audit the books, finally offering to start the audit in May 2016.
Finally, the lawsuit alleges Nye and Disney entered into a "tolling agreement" which is a written agreement where one party agrees that it will not assert a statute of limitations defense in exchange for the other party delaying the filing of a lawsuit. Tolling agreements usually apply to time limits that have not yet expired.