What is the Statute of Limitations?

The Statute of Limitations is a legal concept that sets out a timeline for filing a lawsuit. In California, a lawsuit typically has to be filed within two years of a harm, property damage, or breach of contract taking place. The two-year window is known as the Statute of Limitations. The Statute of Limitations is meant to protect both parties involved in a lawsuit. This is because if a lawsuit is filed after the Statute of Limitations has passed, then the court may not hear the case. This is because it is assumed that the evidence of the harm, damage, or breach has likely been lost over time or that witnesses may have forgotten key facts or details. The Statute of Limitations is especially important to keep in mind when it comes to contracts. This is because contracts often involve large amounts of money and/or other valuable assets. If a contract is breached and a lawsuit is not filed within the two-year Statute of Limitations, then the person who suffered the breach may not be able to recover any of their losses. The Statute of Limitations is a very important concept to understand in California contract law. This is because a person’s right to file a lawsuit may expire before they even realize that they have been wronged. It is important to keep this in mind and to act quickly to preserve any possible legal rights.

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What is the Statute of Limitations?

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