statute of limitations

1a :  a statute establishing a period of time from the accrual of a cause of action (as upon the occurrence or discovery of an injury) within which a right of action must be exercised — compare laches, statute of repose b :  a criminal statute establishing the period of time within which an offense can be punished after its commission

2 :  a period of time established by a statute of limitations for commencing an action or prosecution

3 :  an affirmative defense that the statute of limitations has expired