statute of limitations

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statute of limitations

State and federal laws that place a time limit on the ability to make certain claims in a lawsuit.The various statutes are usually fairly clear and might provide 6 years for breach of contract, 2 years for negligence, and 10 years for rights to real property.The part that causes all the litigation is the question of “when does the time period start to run?”As a general rule of thumb, the clock starts ticking when there has been a harm that would give rise to the ability to sue. If a stairway is erected improperly in year 1,but there is no way to know this until it collapses in year 5, then the statute of limitations begins to run in year 5.

References in periodicals archive ?
For example, four jurisdictions, Arkansas, Missouri, Oklahoma and Texas, have determined that legal malpractice is based in negligence, and therefore a negligence statue of limitation applies.
However, the statue of limitations expired last year.
The purpose of a statue of limitations is to discourage the presentment of stale claims and to encourage diligence in the bringing of actions.
Finally, remember there is no statue of limitations.
The judge also ordered a referee to hear evidence regarding MCI orders issued prior to March 29, 1996 with respect to a statue of limitations issue affecting the tenants appeal.
Furthermore, making the retroactive consolidated return election will result in the prior years' returns' statue of limitations remaining open for a significantly longer period than would typically otherwise be the case.
Most of the provinces have only a 1-2 year statue of limitations.
Reduces the statue of limitations for filing overcharge claims from 36 months to 18 months, thus reducing the time available for auditing freight bills.
It is fundamentally inconsistent with basic rights granted taxpayers by Congress in establishing the statue of limitations for filing amended returns (and refund claims).
Project Walk Across Oregon is part of an effort to pass a bill in the 2009 Oregon Legislature that will eliminate the statue of limitations for criminal prosecution of sexual abuse.
He cannot be charged with these alleged crimes in court because they exceed the statue of limitations.