Limitation

Limitation means that a requisition whether law, such as collecting a debt, can no longer be legally enforced after a certain period of time. In the case of an outstanding invoice, this means that the creditor over time, you can no longer legally require that the debt be paid. The idea behind this is simple: if no action is taken for a long time, you can assume that the claim is no longer relevant. This prevents old debts from lingering forever and guarantees legal certainty.