SOL for equity claims (rescission, accounting, reformation)

• A. 4 years
• B. 6 years
• C. 8 years
• D. 10 years

Answer: (B)

In New York, equity-based claims like rescission, an accounting, and reformation use a six-year statute of limitations. These remedies arise from contract-type concerns or defective instruments, so they follow the contract/ quasi-contract limitations framework rather than a shorter or longer equity-specific period. The clock starts when the claim accrues—typically when the right to seek rescission, an accounting, or reformation becomes available to the plaintiff (for example, upon discovery of the grounds for rescission or the existence of a mutual mistake). Because the standard limit is six years, this is the correct duration for these equity claims, rather than four, eight, or ten years.