What is a statute of limitations and why does it matter for someone considering a legal claim?

Every type of legal claim has a specific statute of limitations (deadline to file), which varies by claim type and state. Common examples include personal injury claims (typically 2 to 3 years), medical malpractice (often 2 to 3 years from discovery of harm), breach of written contract (often 4 to 6 years), and fraud (often 3 to 6 years from discovery). The statute of limitations is a hard deadline: file after it expires and the defendant can have the case dismissed regardless of its merits. Some exceptions 'toll' (pause) the clock, such as when the victim is a minor, was mentally incapacitated, or when the defendant fraudulently concealed the cause of action.