What is the statute of limitations for a written contract in Florida?

The statute of limitations for a written contract in Florida is indeed five years. This period is defined by Florida law and applies to actions based on written contracts. It sets a time frame within which a party must initiate a lawsuit for breach of the contract; if the lawsuit is not filed within this five-year window, the right to pursue legal action may be lost.

Understanding the statute of limitations is crucial for individuals and businesses entering into contractual agreements, as it informs them of the timeframe they have for seeking legal recourse should a dispute arise. This five-year limit is designed to encourage the timely resolution of disputes and to ensure that evidence remains relatively fresh.