Intro to Paralegal Studies Practice

The statute of limitations refers to the time limit within which a party must initiate a legal action, such as filing a lawsuit. This concept is essential in civil and criminal law as it establishes a deadline for bringing forth claims, ensuring that cases are pursued in a timely manner while evidence is still fresh and reliable. Each type of legal claim—whether it be personal injury, breach of contract, or a criminal case—has its own specific statute of limitations, which varies by jurisdiction.

Understanding this concept is crucial for legal practitioners and paralegals, as it impacts the strategy of pursuing claims and negotiating settlements. If a lawsuit is not filed within the specified timeframe, the right to pursue that claim is typically lost, providing a incentive for timely legal action.