When it comes to protecting your rights, understanding the statute of limitations is essential. The statute of limitations is a law that sets a time limit on how long you have to file a lawsuit or take legal action. It varies from state to state and depends on the type of case.
The purpose of the statute of limitations is to ensure that legal claims are brought in a timely manner. If a claim is not brought within the time limit, the person or entity responsible for the harm may be able to avoid liability.
The statute of limitations begins to run when the harm or injury occurs. This means that the clock starts ticking from the date of the incident, not the date you discover the harm. For example, if you are injured in a car accident, the statute of limitations begins to run from the date of the accident, not the date you realize you were injured.
The time limit for filing a lawsuit or taking legal action varies depending on the type of case. For example, the statute of limitations for personal injury cases is typically two years, while the statute of limitations for breach of contract cases is usually four years.
It is important to note that the statute of limitations can be extended in certain circumstances. For example, if the person or entity responsible for the harm is a minor, the statute of limitations may be extended until they reach the age of majority. Additionally, if the person or entity responsible for the harm is out of state or the country, the statute of limitations may be extended until they return.
It is also important to note that the statute of limitations can be waived in certain circumstances. For example, if the person or entity responsible for the harm has fraudulently concealed the harm, the statute of limitations may be waived.
It is important to be aware of the statute of limitations for any legal action you may be considering. If you wait too long to file a lawsuit or take legal action, you may be barred from doing so. Therefore, it is important to consult with an experienced attorney as soon as possible to ensure that your rights are protected.