MANAGEMENT

Detailed explanation-1: -According to the Limitation Act of 1980, lawsuits founded on the law of tort (i.e., civil wrongs) or infringement must be filed within 6 years of the claim for damages arising, which is either the date of the act or omission or the date of the breach of contract, respectively.

Detailed explanation-2: -(j) “period of limitation” means the period of limitation prescribed for any suit, appeal or application by the Schedule, and “prescribed period” means the period of limitation computed in accordance with the provisions of this Act; 1.

Detailed explanation-3: -Expiry of prescribed period when court is closed.-Where the prescribed period for any suit, appeal or application expires on a day when the court is closed, the suit, appeal or application may be instituted, preferred or made on the day when the court reopens.

Detailed explanation-4: -1. a statute limiting the period within which a specific legal action may be taken.