Parties can be discharged from an obligation, if there has been the necessary lapse of time provided by a statute of limitations.

Name: Parties can be discharged from an obligation, if there has been the necessary lapse of time provided by a statute of limitations.
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A statute of limitations sets a maximum time after an event within which legal proceedings may be initiated, and once this period lapses, parties can be discharged from the obligation.

Parties Can Be Discharged from an Obligation, If There Has