The Statute of Limitations is a deadline by which your lawsuit would have to be filed. Depending on different acts, there is a different period of time in which you have to file a lawsuit, and that varies quite a lot between different wrongs.
In addition to types of wrongs, there are exceptions for certain types of plaintiffs and defendants. For example, if the injured person is a minor, the statute of limitations is put on hold until they are 18 years old, or the age of majority.
You should always consult with an experienced personal injury attorney as soon as possible to make sure that the statute of limitations doesn’t pass before you can file your case.