Statute of limitations

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Statute of limitations

A statute specifying the period of time within which legal action must be brought for alleged damages or injury; in construction industry cases.

statute of limitations

A statute specifying the period of time within which legal action must be brought for alleged damage or injury. The lengths of the periods vary from state to state and depend upon the type of legal action. The period commences to run under some statutes of limitations upon the accrual of a legal claim, but in others only upon the time of discovery of the act resulting in the alleged damage or injury.
References in periodicals archive ?
Suspension of Statutes of Limitation by Unilateral Administrative Action
550(6) provides additional certainty and finality to PRA cases, remaining consistent with the overall purpose of statutes of limitations.
Statutes of limitations are said to be the desire of legislators to not overburden debtors, and to prevent the accumulation of debts for many years.
Criminal statutes of limitations accrue when the perpetrator commits the crime and run until the government commences the prosecution.
Unless dictated otherwise by public policy, attorneys may include contractual language expressly providing that statutes of limitation shall apply in arbitration.
One final point of disagreement among jurisdictions is whether nullum tempus exempts governmental entities from statutes of repose in addition to statutes of limitation.
Statutes of limitations contain three discrete aspects: (1) length of the limitations period, (2) accrual, and (3) tolling.
File all claims by December 31, 1999, irrespective of any other statutes of limitation normally associated with the years at issue.
91-23 to address issues such as the use of foreign statutes of limitations and the effect of an Appeals settlement on the resolution of a Competent Authority dispute.
The inequity of disparate statutes of limitation is compounded where a State imposes a shorter period for assessments against domiciled corporations than it permits for assessments against out-of-state corporations.
In criminal law, statutes of limitations exist in part to ensure that victims seek justice in a timely manner, and in part because evidence can be lost or corrupted if charges are not pursued within a reasonable period.