A more thorough explanation:

laches

Laches is a legal principle that states that if someone waits too long to assert their legal rights, they may lose the ability to do so. This means that if a person delays in taking legal action, they may not be able to bring a lawsuit or claim.

For example, if a person knows that their neighbor is building a fence on their property but waits several years to take legal action, they may not be able to stop the neighbor from claiming the land as their own. Similarly, if a person is owed money but waits too long to demand payment, they may not be able to collect the debt.

Another example could be a person who is injured in a car accident but waits too long to file a lawsuit. If they wait too long, they may not be able to recover damages for their injuries.

Laches is a legal principle that encourages people to take prompt action to protect their legal rights. If a person waits too long to assert their rights, they may lose the ability to do so. This principle is designed to prevent people from sitting on their rights and taking advantage of others who may have relied on their inaction.