What is the reason and object of the Law of Limitation? (The Limitation Act, 1963)
Moreover where stale claims leave the Courts no time to attend promptly to more recent and urgent cases, creditors and injured parties in general are led to suspect the readiness of the State to enforce their rights. It is, therefore, expedient that the possibilities of litigation should be limited and restricted.
The law of limitation prescribes the limits. The Romans, therefore, had the maxim interest republican us sit fines lithium (the interest of the State requires that a period should be put to litigation). “The Law of Limitation prevents persons, from enforcing their own rights, and disputing the rights of others after a certain period of time and thus quiets titles and enhances the value of property.
It enables men to reckon upon security from further claim and to act upon it. The necessity for putting a limit to litigation arises also from the perishable nature of a man and all that belongs to him. It has been said by John voet that controversies are limited to a fixed period of time, lest they should be immortal while men are mortal.
The death of parties and witnesses, the loss of destruction of documents and the fading of memory, in the course of time, render such a limit highly expedient for putting a limit to litigation.” No hindrance should be placed upon free circulation of property but so long as the title to property remains dubious and unsettled such circulation cannot take place freely or at all.
Laws of limitation enjoin alertness upon the citizen by making a citizen who delays too long to lose his right altogether. Vigitan tibus non dormentibus jura subvention (the laws assist the vigilant and not those who sleep over the rights).