Opinion ID: 1756976
Heading Depth: 1
Heading Rank: 4

Heading: Statute of limitationsoccurrence of last element of tort

Text: In his second point for reversal, Mr. Hampton argues that the circuit court erred in granting the motion for summary judgment because the three-year statute of limitations did not begin to run until the occurrence of the last element of the alleged tort. He urges that the relevant dates for accrual of the cause of action were, at the earliest, November 23, 1989, when the promissory note came due, and, at the latest, some point between March 9, 1990, when First National Bank made demand upon him, and April 8, 1990, when he finally paid off the note. Mr. Hampton cites Stroud v. Ryan, 297 Ark. 472, 763 S.W.2d 76 (1989), for the principle that the statute of limitations is tolled during the time the putative plaintiff is prevented from bringing the action to which the statute of limitations applies. In that case, however, more than a year passed during which a default judgment had been set aside. For the duration of that period, this court held, although the alleged negligent act had occurred, Stroud had no claim against Ryan, as he could have shown no injury. Id., 297 Ark. at 474, 763 S.W.2d at 78. The Stroud case is inapplicable to the present set of circumstances. No legal mechanism prevented Mr. Hampton from filing suit. Inapplicable, as well, is Midwest Mutual Ins. Co. v. Arkansas Nat'l Co., 260 Ark. 352, 538 S.W.2d 574 (1976), another case cited by Mr. Harmon, where this court held that a taxicab company's cause of action against its insurance carrier accrued only after suit was filed against the taxicab company and it was obliged to assume the cost of its own defense after first learning that its carrier's agent had negligently failed to obtain adequate coverage. In the present case, Mr. Hampton was not subjected to an action in tort. More to the point, as noted earlier, there is no evidence of record of affirmative acts of concealment on Ms. Taylor's part in relation to Mr. Hampton. See First Pyramid Life Ins. Co. v. Stoltz, supra . Absent active concealment, the statute of limitations is not tolled. Further, as an officer and shareholder who had knowledge of the assignments, Mr. Hampton could have discovered the effect of the alleged misrepresentations before May 26, 1989, the date on which he sold his shares in the corporation. See Wilson v. General Electric Capital Auto Lease, Inc., supra . The date of accrual was May 3, 1989, and the circuit court correctly applied the three-year period. Affirmed.