What is the limitation period for a claim under the principle of discoverability?

It is argued that under the principle of discoverability, the limitation period will start to run from the time the material facts on which it is based have been discovered by the plaintiff, or ought to have been discovered with reasonable diligence. The principle is summarized in the case of Caglar v. Moore, [2005] O.J. No. 4606 at paras. 24-25 (Sup. Ct.) wherein the court states: “Under the discoverability principle, a cause of action arises for the purposes of a limitation period when the material facts upon which it is based have been discovered by the plaintiff or ought to have been discovered by the plaintiff by the exercise of reasonable diligence. This is an objective test and the plaintiff is not required to have discovered all the facts upon which his or her action is based. The discoverability rule applies to claims in contract and in tort. … The plaintiff is not required to have sustained or be in a position to assess damages before being able to sue. Error or ignorance of the law does not postpone any limitation period. … The question of when the plaintiff became aware of the material facts is a question of fact, depending upon the circumstances of the case as a whole.”