The period of time following an incident that gave rise to a lawsuit during which a lawsuit can be filed. For example, a personal injury lawsuit may be required to be brought within 2 or 3 years after the date the injury occurred. The statue of limitations for each type of lawsuit, such as breach of contract or fraud, varies according to state law. For more information see: http://www.thelaw.com/guide/advice/litigation/statute-of-limitations/