Statute Of Limitations Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Statute Of Limitations, written in plain English, along with examples of how it is used.

What is Statute Of Limitations?

(n) Statute of limitation is the law limiting maximum period with in which one has to initiate legal proceedings for different classes or types of dispute. If the a suit is not filed or claim made within that period the applicant loses his right. The period of limitation vary from state to state and case to case