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Basically "tolling" is a legal term for a temporary stay or extension of time to take action. So the 120 days tolling just means that any statute of limitations that may apply to filing suit or taking other legal action is extended by 120 days. So for example, with a written contract in CA that has a statue of limitations of 4 years, it is extended to 4 years plus 120 days.
So it just adds 120 days onto any time that someone may take action by law for a breach.
Do I have to accept it?
No, since this is a negotiation that is leading up to a settlement, you can reject it as part of the negotiations if you choose.
if we are to end everything with him by signing, would it give them 120 days to come back and file a law suit.
If would add on 120 days to any time limit that either party had to file suit..
Honestly, I don't know what the reason for the 120 day extension would be since CA has long statute of limitations for legal actions, like 4 years for a written contract, 2 for an oral one, etc. So adding 120 days doesn't seem to make much difference because if someone doesn't take action within 4 years, then they probably wouldn't take action in 4 years and 120 days..
But you can feel free to cross out that part and send it back to them to revise if you don't agree to it.
Well, if the SA was signed, that is a contract. And if either party breached, the other party would have 4 years under CA law to sue. So they are just adding 120 days onto that 4 years, which doesn't seem to do much to me..
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You are very welcome. Glad to help any time...
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