B. A statutory period after which a lawsuit or a prosecution cannot be brought in court.
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to pronunciationLegal Definition -
1. A law that bars claims after a specified period; specifically, a statute establishing a time limit for suing in a civil case, based on the date when the claim accrued (as when the injury occurred or was discovered). --The purpose of such a statute is to require diligent prosecution of known claims, thereby providing finality and predictability in legal affairs ans ensuring that claims will be resolved while evidence is reasonably available and fresh. 2. A statute establishing a time limit for prosecuting a crime, based on the date when the offense occurred.
Black's Law Dictionary Eight Edition 2004
Current Usage -
A growing number of employers are adding a controversial element to their job applications: a waiver in tiny print that says employees can sue the company only within six months of a particular incident. That waives their rights to any contrary statute of limitations provided under state and federal laws, a tactic that is stirring yet more workplace controversy and litigation. Management-side lawyers see the waivers as a good tool to help employers better manage lawsuits in a more predictable fashion, and ward off more claims by giving people less time to sue. But the tactic has employee-rights attorneys reeling. Lawyers need to be aware of this practice, and they need to get copies of personnel files right away so they can know right away whether their clients have waived their rights or not," said Ohio employee-rights attorney Denise Knecht, who recently challenged such a waiver on behalf of a DaimlerChrysler Corp. employee, but lost. The National Law Journal, Tresa Baldas, July 21, 2008