A great majority of lawyers know and understand the basics of a statute of limitation. In fact, the term appears so frequently in news reports and everyday usage that even non-lawyers generally understand its importance and the ultimate effect it can have on the most mundane legal dispute.
Yet a sizable portion of nonlawyers and lawyers alike have never heard of its cousin: the statute of repose. Lawyers who practice outside the litigation arena are typically unfamiliar with statutes of repose because they rarely (if ever) impact their practice. Even litigators’ knowledge about this area may be likewise limited on account of highly specialized or niche practices. And those who claim to understand the statue of repose often conflate or confuse it with the statute of limitations.
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