Home > Term: statute of limitations
statute of limitations
Also: statutory limitation. When a claim becomes time barred after a certain period of time has elapsed the borrower is then no longer obliged to make any payments. There are different limitation periods defined by law depending on the type of claim in question (cf. for example 127 ff. of the Swiss Code of Obligations). Mortgage claims are not subject to statutory limitation.
- Part of Speech: noun
- Industry/Domain: Banking
- Category: Investment banking
- Company: UBS
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Creator
- Stefan K
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