Prescription also known as limitation of actions is a term in law that states the validity of a timeframe that a person can seek assistance at the court of law as a right to sue another.
The reason is that the law help only the vigilant. Prescriptions have the following advantages
· Fair and Orderly administration of justice
· Protect the person from having to defend a claim after a indefinite period of time. this is to help the person as the memories can fade away and documents will be difficult to locate after a period of time.
Common prescriptions in Sri Lanka
| Type | Duration |
| Land/ Immovable Property | 10 years |
| Mortgage Bond | 10 years |
| Contracts | 6 Years |
| Motor Accidents Claims | 2 Years (from the date of the accident) |
| Book Debts / Salary | 1 Year |
| Recovery of money lent | 3 Years |
| Matromonial | No time limit |
Hi there,
ReplyDeleteI was wondering when this law of prescription was put in place in Sri Lanka, particularly that concerning land ownership?