Summary
The Limitation Act, 1963 is an Indian statute of limitations that sets out the time limits within which legal proceedings must be initiated in India. The Act establishes the maximum time period for which a lawsuit can be brought after the occurrence of a particular event. It provides a framework for determining the limitation period applicable to different types of legal actions, such as contracts, torts, and suits for possession of property. The Act also outlines the circumstances under which the limitation period may be extended or suspended, such as in cases of fraud, mistake, or disability. The purpose of the Act is to ensure that disputes are resolved in a timely manner and to prevent the filing of frivolous or stale claims.
