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( Statute of limitations) A statute of limitations is a statute in a common law legal system that sets forth the maximum period of time, after certain events, that legal proceedings based on those events may be initiated. In civil law systems, similar provisions are usually part of the civil code or criminal code and are often known collectively as "periods of prescription" or "prescriptive periods."

A common law legal system might have a statute limiting the time for prosecution of crimes called misdemeanors to two years after the offense occurred. In that statute, if a person is discovered to have committed a misdemeanor three years ago, the time has expired for the prosecution of the misdemeanor. Or a contract can only be sued upon for breach of performance from six years after the contracted performance became due.

By contrast, Canada has a criminal-limitations period only for summary (less serious) offenses. The period is six months from the date of the offense which includes thefts under $5000. Thus, for instance, a Canadian can be charged only with an "indecent act" within six months of the time of offense, unless both the Crown and the defense agree. In the case of indictable (more serious) offenses, for example if a hypothetical assailant committed sexual assault, the assailant could be charged any time in the future.

A crime (in the case of a criminal prosecution) or a cause of action (in a civil lawsuit) is said to have accrued when the event beginning its time limitation occurs. Sometimes this is the event itself that is the subject of the suit or prosecution (such as a crime or personal injury), but it may also be an event such as the discovery of a condition one wishes to redress, such as discovering a defect in a manufactured good, or in the case of controversial "repressed memory" cases where someone discovers memories of childhood sexual abuse long afterwards.

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