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The goal of the writers of this article is to determine the present situation of (the limitation period). We are trying to give a good definition for this rule and to elaborate some part of it, while explaining some differrent law system of the world, and we will express that some kind of this rule is stablished in Iran law. Then we'll take a look to the interesting process of law making in Iran after the Islamic revolution and we'll bring some of the most famous opinion of some famous lawyer, and Islamic leaders. This way we shall argue about: 1. The acceptance of this rule in every legal system. 2. The acceptance of this rule in Iranian legal system before the Islamic revolution. 3. Islamic leaders do not accept it as an Islamic rule. 4. And finally we shall prove the fact that we have to accept this rule in our law in order to solve lots of problems taht may arise in our agreements and contracts by forgetting this important rule, especially in our International relationships. And after all, we will make a conclusion.