A statute of repose (sometimes called a nonclaim statute), like a statute of limitation, is a statute that cuts off certain legal rights if they are not acted on by a specified deadline. Statutes of repose exist in a number of contexts. Some jurisdictions have passed statutes of repose in the context of products liability law, or for probate court proceedings. ("Statute of repose". Wex. Cornell Law School. Retrieved 17 August 2017.)Prescription is rightly regarded as a statute of repose whose object is to suppress fraudulent and stale claims from springing up at great distances of time and surprising the parties or their representatives when the facts have become obscure from the lapse of time or the defective memory or death or removal of witnesses. Our laws do not favor property rights hanging in the air, uncertain, over a long span of time. (G.R. No. 125590; March 11, 1999)
