What is a statute of repose?

A statute of repose is a type of law that limits the amount of time a person has to file a lawsuit for an accident. In Kansas, a statute of repose limits the amount of time a person has to file a lawsuit for an accident to two years from when the accident occurred. This is different from a statute of limitations, which limits the amount of time a person has to file a lawsuit from when the injury or damage is discovered. The purpose of a statute of repose is to protect businesses and individuals from potential lawsuits being raised against them long after an incident has occurred. It allows individuals and companies to plan and budget for potential liabilities associated with their activities and eliminates the unpredictability of how long they might be held responsible for an incident. The statute of repose can be beneficial to accident victims as well. In certain cases, an accident victim may not discover the extent of their injuries or property damage until long after the incident has occurred. The statute of repose allows them to still receive compensation for their losses by filing a lawsuit within the two-year window. Overall, a statute of repose is a beneficial law that helps protect individuals and businesses from potential lawsuits while also protecting accident victims by allowing them to file a claim within a reasonable amount of time.

Related FAQs

What is Comparative Negligence?
What is a settlement demand letter?
How is pain and suffering calculated in a personal injury claim?
What is subrogation?
What do I need to prove to win a personal injury case?
What is the discovery period in a personal injury case?
What is a wrongful death claim?
What is a structured settlement?
What is a settlement agreement?
What types of compensation can I expect to receive in a personal injury claim?

What is a statute of repose?

Related FAQs

Related Blog Posts