Final answer:
The statute of limitations for filing an action based on any written contract is typically 4 years in many jurisdictions. This ensures legal actions are made promptly and evidence remains present. The concept of time limits in law is also exemplified by the Lilly Ledbetter Fair Pay Act and the customary seven-year ratification period for amendments to the Constitution.
Step-by-step explanation:
The question pertains to the time limit within which a plaintiff can file a lawsuit based on a written contract. The statute of limitations for filing such an action varies depending on the jurisdiction; however, option (B) 4 years is the typical period set for many states. This time limit is intended to promote fairness and diligence in legal actions, ensuring that claims are made while evidence is still fresh and available.
An example that illustrates the complexities of the statute of limitations in another context is the Lilly Ledbetter Fair Pay Act. This Act was created after Ledbetter learned of pay discrimination too late to file under the standard statute of limitations, leading to changes in how discriminatory acts are defined. Similarly, the ratification of amendments to the Constitution, as mentioned, must occur within a 'reasonable time,' with seven years being the precedent for some previous amendments, demonstrating various contexts in which time limits play a pivotal role in the legal process.