By letter dated May 9, 2002, plaintiff's general counsel gave defendant notice of the discovery of a loss under the subject bond. Plaintiff commenced this action on May 21, 2004. Since the action was not commenced within two years after the discovery of the loss, as required by the bond, it was untimely.
Contrary to plaintiff's contention, the June 2003 letter agreement between the parties did not toll the contractual limitations period. It contains no language tolling...
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