                                 CODE OF VIRGINIA

STATUTE OF LIMITATION (§ 8.2A-506)

1. An action for default under a lease contract, including breach of warranty or
indemnity, shall be commenced within four years after the cause of action
accrued. By the original lease contract the parties may reduce the period of
limitation to not less than one year.

2. A cause of action for default accrues when the act or omission on which the
default or breach of warranty is based is or should have been discovered by the
aggrieved party, or when the default occurs, whichever is later. A cause of
action for indemnity accrues when the act or omission on which the claim for
indemnity is based is or should have been discovered by the indemnified party,
whichever is later.

3. If an action commenced within the time limited by subsection (1) of this
section is so terminated as to leave available a remedy by another action for
the same default or breach of warranty or indemnity, the other action may be
commenced after the expiration of the time limited and within six months after
the termination of the first action unless the termination resulted from
dismissal for failure or neglect to prosecute.

4. This section does not alter the law on tolling of the statute of limitations
nor does it apply to causes of action that have accrued before this title
becomes effective.

HISTORY: 1991, c. 536.