The Statute of Limitations is a law that sets a maximum time period for bringing legal actions, such as lawsuits or criminal charges. This time limit varies depending on the type of case and jurisdiction. Once the statute expires, individuals can no longer pursue legal remedies for that specific issue, promoting timely resolution and preventing the indefinite threat of legal action. These laws exist to ensure fairness and justice, as evidence can become less reliable over time. For example, in many places, the statute for personal injury claims is typically around three years, while serious crimes like murder may not have a statute of limitations at all.