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What is a "Limitation Period" or "Period of Limitation"?

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Question added by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.
Date Posted: 2014/10/25
Ayman Esa Mustafa Farrag
by Ayman Esa Mustafa Farrag , مدير مالي , شركة الصفوف

An accountant is liable for his professional malpractice.  When there is a professional malpractice, the period of limitation starts depending on whether the cause of action is brought 

Vinod Jetley
by Vinod Jetley , Assistant General Manager , State Bank of India

The period of limitation for each document to be enforceable under law is determined by the Limitation Act.

georgei assi
by georgei assi , مدير حسابات , المجموعة السورية

Limitation: Is the move period. It is in the positive law of two types: Muscat and gain, the former lead to the fall of the right, and the second reason for the gain. If the personal rights (obligations) can only be subject to limitations, the rights in rem may also fall (unless the right of ownership) by the statute of limitations, it may be acquired by prescription gain. While the statute of limitations assumes a negative situation is not the creditor's claim against him or non-use right, the statute of limitations requires positive earnings situation is tenure. But two systems involved in the lapse of the time element.

Divyesh Patel
by Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

Limitation periods are time limits that restrict when legal proceedings may be commenced.

Khaled Mohee Eldeen Abbas Mahmoud
by Khaled Mohee Eldeen Abbas Mahmoud , Chartered Accountant # 10465 , Self-employed

I agree with some of answers provided

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