It is human nature to impose term limits. In contract law, these limits are everywhere, from the time to assert a claim to the time to demand arbitration or file suit in court. A variety of logical explanations has been offered for such destructions of rights by the lapse of time. Many of the arguments concern the preservation of evidence. Over time, witnesses disappear and documents are lost or destroyed. At the heart of the matter is simply the desire to know that, after some period of time, a person can assume that the dead hand of the past will lose its grip.
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