The statute starts to run from the moment of discovery. It is that discovery of a breach that starts the clock. The statute of limitations means that a person has to file action within the stated time period, 4 years for oral contracts and 6 years for written contracts.
It really is not a breach of bad faith. There is a condition called good faith bargaining, that was coined in federal statutes to describe the condition of albor contracts. However, because of the color of law, good faith bargaining can apply to any contract that was negotiated or entered into.
So you would have a lack of good faith bargaining or breech of contract.
a person can create a contract without the intention of carrying through with it, or that includes conditions which are impossible to meet, and that would be a breach of the concept of good faith bargaining.
Here are some sample cases for good faith bargaining and breech of contract.
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