STATUTE OF LIMITATIONS
\stˈat͡ʃuːt ɒv lˌɪmɪtˈe͡ɪʃənz], \stˈatʃuːt ɒv lˌɪmɪtˈeɪʃənz], \s_t_ˈa_tʃ_uː_t ɒ_v l_ˌɪ_m_ɪ_t_ˈeɪ_ʃ_ə_n_z]\
Definitions of STATUTE OF LIMITATIONS
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The legally prescribed time limit in which a lawsuit must be filed. Statutes of limitation differ depending on the type of legal claim, and often the state. For example, many states require that a personal injury lawsuit be filed within one year from the date of injury -- or in some instances, from the date when it should reasonably have been discovered -- but some allow two years. Similarly, claims based on a written contract must be filed in court within four years from the date the contract was broken in some states and five years in others. Statute of limitations rules apply to cases filed in all courts, including federal court.
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