Okuzeka
Contract & Commercial Law vocabulary · Disputes & Arbitration

Limitation period

Meaning in contract & commercial law, with examples

nounCommon term

In contract & commercial law, limitation period means: The time limit within which a legal claim must be started; after it expires, the claim is usually barred.

In Turkish: zamanaşımı süresi, zamanaşımı

How it is used

In England most contract claims have a six-year limitation period from the date of breach, or twelve years for deeds. The US term is 'statute of limitations'. Contracts such as an SPA often set shorter periods for warranty claims.

Example sentences

  1. The claim was rejected because the limitation period had expired.

  2. Warranty claims under the SPA have a shorter limitation period of 24 months.

Common collocations

  • the limitation period expires
  • statute of limitations
  • time-barred
  • within the limitation period
  • litigationThe process of taking a dispute to a national court and having a judge decide it, as opposed to resolving it through arbitration or mediation.
  • disputeA disagreement between parties about their rights or obligations, for example over payment, quality or the meaning of a clause.
  • breach of contractFailure by a party to do what it promised in a contract, for example paying late, delivering faulty goods or not delivering at all.
  • warrantyA promise in a contract that a fact is true or that goods or services meet a certain standard; if it proves wrong, the other party can usually claim damages.

More terms: Disputes & Arbitration

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This page explains English vocabulary for learners. It is not legal advice.