[irv]

Originally Posted by benjulmag

It's an interesting issue. Continuing with the same example, suppose I waited 15 years before submitting the card for forensic testing, during which time the spread between an 8 Cobb and an "A" Cobb increased from, say, $20k to $125k. Could PSA argue I had a duty to undertake the testing years earlier (assuming the forensic testing method was commercially was available during the entire 15-year period) and accordingly their exposure should be limited to $20k. By this line of reasoning, could they argue the statute of limitations has expired such that I am barred from collecting damages altogether?

Originally Posted by Peter_Spaeth

They really should have promised to reimburse for out of pocket cost, not current market value. The buyer gets a huge windfall this way in a rising market. As to your question, who knows, it would depend on what the cause of action is and what triggers the statute of limitations I guess. I'd have to think about that. But as it's likely to run from when you did or could have discovered your claim in the exercise of reasonable diligence, you likely would be out.

Is a statute of limitations something that a seller can declare or is it the law that dictates what that period of time is?