Statute Of Limitations Definition

noun
A statute limiting the period within which a specific legal action may be taken.
Webster's New World
The period itself.
Webster's New World
Law governing time permitted for filing various types of lawsuits, differing from state to state and as to type of matters; for example, states’ statutes of limitations for filing a negligence action may vary from one to three years, a claim for breach of contract may have a statutory limit of some other amount of time; in all cases, statutes of limitations are specifically set forth and are strictly enforced; failure to comply by even one day will result in dismissal of lawsuit.
Webster's New World Law

Other Word Forms of Statute Of Limitations

Noun

Singular:
statute of limitations
Plural:
statutes of limitations

Statute Of Limitations Sentence Examples

  • Naturally, the statute of limitations has expired so he's as free as a summer breeze.

  • Debt that has exceeded the statute of limitations is often referred to as time barred debt.

  • Thus a debt may be barred by the Statute of Limitations and so cease to be enforceable.

  • There is a statute of limitations for most negative items.

  • The statute of limitations does not stop collectors from legally pursuing payment, but it does prohibit lawsuits from creditors in an attempt to collect payment.

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