pe·remp·tion /pə-'remp-shən/ n [Late Latin peremption- peremptio, the act of quashing, from Latin perimere to take away entirely, destroy, kill] in the civil law of Louisiana: the absolute extinguishment of a right that prevents the bringing of an action
a claim barred by peremption; also: the period of time after which such an extinguishment automatically occurs compare prescription
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.