What does statute of limitation means?

Depends on what the situation is. In general, a judgement can only be gotten from a court for a debt less than a certain age. IE I borrowed money from a friend 10 years ago and never paid a dime. He now sues me in court. My defense is that the statute of limitations in my state has run out for this type of debt. Judge dismisses the case but the debt is still alive. My friend keeps crying about it and pestering me to the point I offer him $100 to shut up and go away. He sues me again in court stating that I have restarted the clock on the statute by making an offer. Juddge looks at me and shakes his head. I am sunk