statute of limitations

Definitions

Banking

  • noun a law which allows only a fixed period of time, usually six years, for someone to start legal proceedings to claim property or compensation for damage

Construction

  • Provision of law establishing a certain time limit from an occurrence during which a judgment may be sought from a court of law.

Law

  • noun a law which allows only a certain amount of time (usually six years) for someone to start legal proceedings to claim property or compensation for damage, etc.

Real Estate

  • noun a law that allows only a certain amount of time, usually six years, for someone to start legal proceedings to claim something, e.g. property or compensation for damage
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