A law that extinguishes a right of action after a specified period of time has elapsed, regardless of whether the cause of action has accrued. Courts generally find that statutes of repose begin to run without interruption once the triggering event occurs.

A statute of repose differs from a statute of limitations because a statute of limitations generally does not begin to run until the injury or damage giving rise to the cause of action occurs. Equitable principles reflected in doctrines, such as the equitable tolling and the fraudulent concealment doctrines, also generally do not toll a statute of repose because repose provisions set an outer limit independent of the plaintiff's knowledge. Both types of statutes may apply to the same claim.