Limitation of actions refers to the legal principle that sets a specific timeframe within which a party must initiate legal proceedings to enforce their rights or seek redress for a legal wrong. These time limits are prescribed by statute and vary depending on the jurisdiction and the type of legal claim involved. The purpose of limitation periods is to ensure that disputes are resolved in a timely manner, to prevent stale claims, and to promote judicial efficiency. Once the limitation period expires, the right to bring a claim is generally extinguished, although there may be exceptions in certain circumstances, such as when the claimant was unaware of the cause of action or when fraud has occurred. Understanding the limitation of actions is crucial for individuals and organisations to protect their legal rights and ensure timely recourse in the event of a legal dispute.
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This glossary post was last updated: 29th March, 2024.
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