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statute of limitations
(redirected from statutes of limitations)

   Also found in: Dictionary/thesaurus, Medical, Legal, Encyclopedia, Wikipedia 0.01 sec.
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.



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The court observed that where there are two statutes of limitations which apply to the same subject matter, one specific and one general, the specific statute controls.
The bill's opponents, including the American Civil Liberties Union and the Oregon Criminal Defense Lawyers Association, raise the usual arguments presented to justify statutes of limitations.
The absence of such clauses, much to the surprise of the parties to such contracts, may lead to an arbitral ruling that statutes of limitations do not apply to the parties' dispute.
 
 
 
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