Statute of Limitations

• A statute of limitations is law that establishes a legal ticking clock. The statute establishes a specific amount of time in which one party -- a person or organization -- has to take a specified action. For example, a statute of limitations on judgments limits how long a judgment holder -- someone who wins a lawsuit in court -- has to collect the money the judgment awarded. If the statutory clock runs out before the limited party takes the action, a court can throw out the case if the party tries to take the action afterward.
  
  

Check Fraud

• If someone intentionally passes a bad check, that person commits the crime of financial institution fraud in Illinois. The crime, depending on the amount of the check, is punishable as either a class A misdemeanor or a Class 4, 3, 2 or 1 felony. A Class A misdemeanor has a statute of limitations of 18 months. Felony offenses have a three-year statute of limitations in Illinois.
  
  

Bounced Checks

• If someone passes you a check that later bounces and never pays you for the amount owed, you can sue that person in court. According to Illinois Legal Aid, you have three years from the date upon which the check "bounced," or was refused or returned by the bank, to sue the person who wrote it. This is not the same as a criminal prosecution. In a criminal prosecution, the state charges the person who wrote the check with a crime. In a civil action, you sue the person who wrote the check in order to recover the money.
  
  

Other Considerations

• Any statute of limitations requires the acting party to take action within the stated amount of time. In the case of a criminal prosecution, the state must file criminal charges against the defendant within the statutory period. If the state files charges on the last day of that time period, it has met the requirements and can still prosecute even if the prosecution process lasts much longer than the statutory period. If a party exceeds the statute of limitations, it is typically up to the party getting sued or prosecuted to ask the court to dismiss the case because of the violation.