Chancery: Statutes of Limitations May Be Shortened by Contract

ENI Holdings LLC v. KBR Group Holdings, LLC, C.A. No. 8075-VCG (Del. Ch. Nov. 27, 2013).

This Chancery decision reiterated the settled Delaware law regarding freedom of contract which includes allowing parties to agree to a shorter statute of limitations than would otherwise apply to claims between parties to the agreement. Thus, an agreement could serve to shorten the typical three-year limit on contract claims or the two-year typical limit on tort claims.