Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Principal definition

What does Principal mean? In finance and debt capital markets, principal means the capital sum outstanding under a bond, note or loan—the amount owed excluding interest, fees and any redemption premium. For certificated securities it is the sum stated on the face of the instrument (its face or par value); for dematerialised or global securities it is the recorded nominal amount. Interest (the coupon) is calculated by reference to the outstanding principal. Principal is ordinarily payable on redemption at maturity, or earlier on amortisation, prepayment, call, put or acceleration. The term is a descriptive expression used across England and Wales, Scotland, Northern Ireland and Ireland,...

Limitation Act 1980: principal periods, equitable remedies, laches, restitution, contribution and extensions—updated with recent authorities (England and Wales)

Published by a LexisNexis Dispute Resolution expert

Practice notes

The Principal limitation periods

The following table sets out the main categories of action and specifies how many years a claimant has to issue proceedings under the Limitation Act 1980 (LA 1980), highlighting, where relevant, the applicable statutory provisions and authorities as appropriate. For help on identifying the applicable limitation period (ie the point at which time begins to run and when it ceases), refer to Practice Note: Limitation Act 1980—general application. Please note the table below is not comprehensive; it does not list every possible claim. It concentrates on those actions most likely to matter to a Dispute resolution practitioner and omits certain highly specific causes of action, for instance, successive conversions of goods (LA 1980, s 3), although these are contained within the LA 1980...

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Web page updated on 21/05/2026

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