limitation – Statutes of limitation are sometimes described as “statutes of peace”. An unlimited and perpetual threat of limitation creates insecurity and uncertainty; some kind of limitation is essential for public order – the object for fixing time-limit for litigation is based on public policy fixing a lifespan for legal remedy for the purpose of general welfare – They are meant to see that the parties do not resort to dilatory tactics but avail their legal remedies promptly – Salmond in his Jurisprudence states that the laws come to the assistance of the vigilant and not of the sleepy.