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A limitation of liability clause is a provision in a contract that limits the amount of exposure a company faces in the event a lawsuit is filed or another claim is made. If found to be enforceable, a limitation of liability clause can cap the amount of potential damages to which a company is exposed. The limit may apply to all claims arising during the course of the contract, or it may apply only to certain types of causes of action.
ARTICLE 2- LIfITATIONS OF Timr. CPLR 203(a): Cause of action for breach of contract accrues when. plaintiff is harmed and not when the breach occurs. CPLR 203(a) declares that a statute of limitations begins to run. from the time a cause of action accrues, and a cause of action for breach. of contract generally accrues at the moment the contract is breached.1. Situations arise, however, when the cause of action does not accrue. simultaneously with the breach; and in such cases the court must deter-.