For indemnity and contribution claims, what is the statute of limitations and from what event does it run?

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Multiple Choice

For indemnity and contribution claims, what is the statute of limitations and from what event does it run?

Explanation:
Indemnity and contribution claims are reimbursement actions. The clock starts when the party pays the judgment (or is required to satisfy it), not when the underlying liability arose. So the statute of limitations is six years, running from the date of payment of the judgment. This reflects that you can sue for reimbursement only after you’ve borne the loss, within six years of that payment.

Indemnity and contribution claims are reimbursement actions. The clock starts when the party pays the judgment (or is required to satisfy it), not when the underlying liability arose. So the statute of limitations is six years, running from the date of payment of the judgment. This reflects that you can sue for reimbursement only after you’ve borne the loss, within six years of that payment.

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