statute of repose
nounDefinitions
A law that sets a time limit for legal liability starting from the occurrence of a…
A law that sets a time limit for legal liability starting from the occurrence of a specified act (typically completion of a product or point of sale).
- Therefore, a plaintiff's cause of action may be extinguished by the statute of repose before the applicable statute of limitations time period expires, and a statute of repose may start running before a plaintiff's cause of action accrues.
- Statutes of repose are a compromise of the interests of consumers on the one hand and of manufacturers and sellers on the other.
The neighborhood
Vish — recursive loop
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sense glosses and etymology drawn from English Wiktionary · source · CC-BY-SA