Statute of repose

Statute of repose,

Definition of Statute of repose:

  1. Statute of limitations applicable a fixed number of years after a party to a contract (such as an architect, builder, contractor) has acted in a certain way (has performed his or her part of the contract). Its application is not contingent upon the occurrence of damage or injury to the other party to the contract (such as the client or owner of the project).

Meaning of Statute of repose & Statute of repose Definition