Statute-of-limitations meaning

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.
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(law) Any law that sets a time limit, after which a person may not be tried for a crime, or after which some other legal action may not take place.
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A legal restriction, as by law or court decision, on the time that is allowed to elapse between the arising of a legal claim and the filing of a suit based on such legal claim.
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A statute limiting the period within which a specific legal action may be taken.
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The period itself.
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A legal time limit, after which certain types of lawsuits may not be filed.
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A time limit, after which a government agency may not pursue certain regulatory actions. For example, the Internal Revenue Service (IRS) has three years to audit tax returns and assess back taxes if mistakes are found; however, that statute of limitations doesn’t apply in cases of fraud.
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