Why Have Statute of Limitations?
The general idea of establishing time limits is simple, it helps the case move forward in a reasonable amount of time. Statute of limitations aid in guaranteeing that all aspects of the case, including compensation, retribution, and resolution happen promptly while also deterring similar infractions in the meantime.
In the same way, SOL advances a victim’s chance at justice, it also ensures that a lawsuit doesn’t infringe on an offender for an indeterminate amount of time. Ultimately SOL adds a base level of fairness for all parties involved.
How Long Is Statute of limitations?
The time period available for filing a suit is dependent on the type of claim it is. For example, personal injuries such as auto accidents have roughly a two year period from the date of the incident. In most cases, this two-year period applies to malpractice and property damage cases whereas a suit such as a breach of contract has up to ten years to file.