Refers to the year during which a statute of limitations applies to a specific legal action or claim. It sets the maximum time after an event within which legal proceedings may be initiated.
The statute of limitations is a law that sets the maximum time within which parties involved in a legal dispute must initiate legal proceedings from the date of an alleged offense or claim.
A statute of limitations sets the maximum period during which parties must initiate legal proceedings to enforce their rights, after which their rights may be unenforceable. The specifics can vary depending on jurisdiction and context, such as those defined by the IRS for tax-related matters.
