What does it mean when a lawsuit is described as "time-barred"?

When a lawsuit is described as "time-barred," it indicates that the claim cannot be pursued because it has exceeded the legal deadline for filing. In legal terms, statutes of limitations define the maximum time period allowed for a party to initiate a lawsuit after an event occurs or after a party becomes aware of a claim. Once this time period has passed, the right to bring the lawsuit is lost, regardless of the merits of the case.

This principle is designed to ensure the timely resolution of disputes and to prevent the indefinite threat of litigation, promoting fairness and efficiency in the legal system. It emphasizes the importance of adhering to deadlines, as the failure to file within the specified time frame permanently bars the party from seeking a legal remedy.