Section 492: Statute of limitation

1) There shall be no statute of limitations for making a lawsuit in the matter of a transaction carried on with intent to take rights to, misappropriate, cause loss to, or disorder, the property of an incompetent and quasi-competent person, or in the matter of collection of compound interest or collection of interest in excess of ten percent.

2) Except as provided for in sub-section (1), a person who is aggrieved from any act done or action taken pursuant to this Chapter may make a lawsuit as follows from the date of such act or action:

(a) Where this Chapter provides for a separate statute of limitation for making a lawsuit, within such limitation,

(b) Within a period of one year from the date of expiration of the period, if any, specified in any deed, and failing such a deed, or in the other cases, from the date of accrual of the cause of action.