The term "time limit" refers to a specific period or duration within which something must be completed. It is an established rule, guideline or constraint that sets a deadline for finishing a task, taking an examination, submitting documents or fulfilling certain obligations. The time limit can vary depending on the nature of the activity and may range from minutes to months. Failure to complete the task within the specified time frame could result in penalties such as disqualification, loss of points or failure to achieve a goal. In essence, "time limit" refers to an imposed restriction that must be adhered to for successful completion of a given activity.