The Law of Limitation is arbitrary and inequitable. It discharges people for obligations which they never performed. Discussed!
The public has a great interest in having a known limit fixed by law to litigation, for the quiet of the community, and there may be a: certain fixed period, after which the possessor may know that his title and right cannot be called in question.
It is better that the negligent owner, who has omitted to assert his title and right within the prescribed period, should loss his right, than an opening should be given to interminable litigation exposing parties to be harassed by the stale demands, after the witnesses of the facts are dead, and the evidence of the title lost.
Statutes of limitation are definite rules of law giving to the population for whose benefit they have been framed a guarantee that after the lapse of a certain period they may rest in peace and rely upon titles or other rights which they have acquired.