Is Sears not answerable to the statute of limitations?

Answer 1

A "statute of limitations" is the time limit a person or company has to prosecute a complaint before the complaint becomes null and void. For example, if the statute of limitations on assault is 1 year and I call the cops after 9 months, then I can prosecute. If I call the cops after 13 months, then I can't prosecute. So in other words, there is no such thing as "being answerable" to a ststute of limitations. A statute of limitations makes a person unanswerable. Perhaps you are thinking of the statute of limitations on a Sears credit card? If Sears brought the original complaint against the card holder before the statute expired, then the card holder is liable. For example, the statute for credit card debt is 7 years. If I charge something on a Sears card and don't pay it back, Sears can wait for 6 years and 363 days to file a complaint. The civil case or repossession or whatever can then be executed more than 7 years after I have made the credit card purchase. The statute of limitations applies to the filing of the complaint -- not the execution of the settlement.