CPLR § 213

CPLR § 213 Actions to be commenced within six years

Prand Corp. v County of Suffolk, 2009 NY Slip Op 03708 (App. Div., 2nd, 2009)

blockquoteA cause of action for rescission based on mistake runs from the date of the alleged mistake or actionable wrong (see CPLR 213[6]; Zavaglia v Gardner, 245
AD2d 446). Here, the cause of action for rescission of the contract
accrued on the date that the price was set in the contract, which was
the date when the contract was fully executed (see Zavaglia v Gardner, 245 AD2d 446; cf. First Natl. Bank of Rochester v Volpe, 217
AD2d 967, 968). Consequently, the cause of action seeking rescission of
the contract of sale on the ground of mutual mistake, which was brought
more than six years after the contract was fully executed, was untimely

(see Zavaglia v Gardner, 245 AD2d 446).

A cause of action alleging fraud is timely if it is commenced
either within six years from the time of the fraud, or within two years
after the plaintiff discovers, or with reasonable diligence could have
discovered, the fraud (see CPLR 213[8]
; Pericon v Ruck, 56 AD3d 635, 636; Oggioni v Oggioni, 46 AD3d 646, 648; Town of Poughkeepsie v Espie, 41 AD3d 701, 705; Shannon v Gordon, 249
AD2d 291, 292). The test as to when a plaintiff, with reasonable
diligence, could have discovered an alleged fraud is an objective one (see Prestandrea v Stein, 262
AD2d 621, 622). Here, notice to the plaintiff of the Attorney General's
action in 2002 clearly triggered a duty on the part of the plaintiff to
inquire as to potential fraud with respect to the contract of sale (see Shannon v Gordon, 249 AD2d at 292; cf. Pericon v Ruck, 56
AD3d at 636). Inasmuch as the plaintiff did not commence the instant
action until more than six years after the time of the alleged fraud,
and more than two years after the plaintiff, with reasonable diligence,
could have discovered the alleged fraud, the cause of action for
rescission based upon fraudulent inducement is barred by the statute of
limitations (see CPLR 213[8]
; Oggioni v Oggioni, 46 AD3d at 648).blockquote

The bold is mine.

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