law
statute of limitations
A statute of limitations is a law that sets the maximum period of time after an event within which a lawsuit may be filed. Once the period expires, the claim is generally barred, no matter how valid it was. Time limits differ by type of claim, such as breach of written contract, fraud, or personal injury, and they vary from state to state. It is a statutory deadline, unlike laches, which is an equitable defense based on unreasonable delay.
- Exam tip
- Don't confuse it with the statute of frauds, which requires certain contracts to be in writing. Limitation periods vary by state and type of claim.
- Example
- A buyer discovers a breach of the purchase contract but waits longer than the state's limitation period to sue; the court dismisses the case as time-barred.
Related terms & state variants
Sources
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Last verified: 2026-10-23