Open AccessTHE COMPARATIVE LEGAL HISTORY OF LIMITATION AND PRESCRIPTION
Author(s) -
E.J.H. Schräge
Publication year - 2018
Publication title -
obiter (port elizabeth. online)/obiter (port elizabeth)
Language(s) - English
Resource type - Journals
eISSN - 2709-555X
pISSN - 1682-5853
DOI - 10.17159/obiter.v39i3.11337
Subject(s) - plaintiff , creditor , law , political science , common law , medical prescription , civil law (civil law) , law and economics , business , sociology , commercial law , debt , medicine , finance , pharmacology
Within both the civil law and the common law (as well as in mixed legal systems), there are means of acquiring and losing rights, or of freeing ourselves from obligations with the passage of time. The reason for this is at least twofold: on the one hand, for a claimant, a dispossessed owner or a creditor, limitation and prescription provide stimuli for bringing the action; on the other, this sanction upon the negligence of the claimant implies in many cases a windfall for the defendant. If a creditor is negligent in protecting his assets, the law at a certain stage no longer protects him or her. As Oliver Wendell Holmes, Jr. said aptly some 100 years ago: “Sometimes it is said that, if a man neglects to enforce his rights, he cannot complain if, after a while, the law follows his example”.