Nicholas Kyriakoudes You may have heard of the expression “statute of limitation” but may not know what exactly this term means. Statute of limitation refers to the legislation which contains limitation periods in respect of causes of actions. A limitation period means the time limit which proceedings in respect of a particular cause of action must be brought before a court by. A “cause of action” simply refers to a legal right which a person or entity has to sue another person or entity in court. For example, a cause of action may arise under contract, deed, or some other [...]