What is the statute of limitations for contract claims in South Carolina?

1. Written Contracts

South Carolina Code § 15-3-530(1) provides a 3-year SOL for actions upon a contract, obligation, or liability, express or implied, excepting those mentioned in § 15-3-520.

2. Oral Contracts

Section 15-3-530(1) also applies a 3-year SOL to oral contracts. South Carolina treats both contract types identically.

3. Sealed Instruments / Promissory Notes

S.C. Code § 15-3-520(b) grants a 20-year SOL for actions upon a sealed instrument other than a sealed note or personal bond for the payment of money only. Sealed notes for payment of money use shorter periods.

4. Sale of Goods (UCC Article 2)

S.C. Code § 36-2-725 imposes a 6-year SOL on breach-of-sales claims (South Carolina extended the standard UCC 4-year period to 6 years). Parties may shorten to 1 year by original agreement.

5. Open Account / Account Stated

Open accounts use the 3-year SOL under § 15-3-530. The clock runs from the last item charged.

6. Accrual Rule

The cause accrues at breach. Each missed installment under an installment contract starts its own SOL.

7. Discovery Rule for Fraudulent Concealment

South Carolina applies the discovery rule for fraud-based claims. SOL is tolled where the defendant fraudulently concealed the cause of action.

8. Tolling

S.C. Code § 15-3-40 tolls for minority and insanity. SCRA tolls for active military service. Defendant absence from South Carolina may toll under § 15-3-30.

9. Contractual Modification of SOL

South Carolina permits reasonable contractual shortening of SOL. Extensions are generally unenforceable before accrual.

10. Borrowing Statute

S.C. Code § 15-3-120 borrows the shorter SOL when the cause of action accrued in another state.

This is legal information, not legal advice.