Pearson v. MIGA [01/09/12] 2012 MTWCC 1 Since Petitioner signed the settlement agreement on his own behalf and was found by the Court to be incompetent at the time of the agreement, the agreement is subject to rescission pursuant to § 28-2-203, MCA, because Petitioner was of “unsound mind.”  Pursuant to § 27-2-202, MCA, an action founded on a written contract must be commenced within eight years, and since Petitioner filed his Petition for Trial a little over three years after the statute of limitations ran, the Petition would have been time-barred but for the five-year extension of the statute of limitations provided for in § 27-2-401(1), MCA, when an individual suffers from serious mental illness.