Accounting, financial and tax file type. qfx file icon: The qfx file extension is associated with Quicken, a personal finance management tool developed by Intuit, Inc, which is available in both Windows and Mac Versions. The QFX format is financial data format used for importing data into Quicken financial software.
DEFINITION of 'Statute Of Limitations'. A statute of limitations is a law which sets out the maximum time that parties have to initiate legal proceedings from the date of an alleged offense. The precise form of a statute of limitations differs from one jurisdiction to the next. In general, the length of time allowed under a statute of limitations varies depending upon the severity of the offense. For example, breach of contract cases may only be brought within a few years after the event.
The statute of limitations is a defense that is ordinarily asserted by the defendant to defeat an action brought against him after the appropriate time has elapsed. Therefore, the defendant must plead the defense before the court upon answering the plaintiff's complaint.alifornia also has short periods, usually one year, with two years for most property damage and oral contracts and four years for written contracts. There are also statutes of limitations on the right to enforce a judgment, ranging from five to 25 years, depending on the state.