Halsbury's Laws of England, 4th Edn., Vol. 28, p. 266, Para 605, the policy of the limitation Acts is laid down as follows:
“605. Policy of the Limitation Acts.—The courts have expressed at least three differing reasons supporting the existence of statutes of limitation, namely, (1) that long dormant claims have more of cruelty than justice in them, (2) that a defendant might have lost the evidence to disprove the stale claim, and (3) that persons with good causes of actions should pursue them with reasonable diligence.”
