I always liked the Christmas classic It's a Wonderful Life. No one else in my family seems to like it; they think it's hokey and too long. Some of those criticisms may be valid, but I still spend time watching it every year because it has always been a Christmas tradition for me. Watching the film has been a tradition for many over the years. However, most don't know that a legal lapse likely led to it becoming a holiday favorite.
When It's a Wonderful Life was released in theatres, it received mixed reviews from critics and mediocre box office returns. Though it received some Academy Award nominations, there were little indications at the time that it would go on to become a beloved film. So, what happened? At the time of the film's release,
There is an important lesson to be learned from this: deadlines matter in the law. Almost all claims one can make have “statutes of limitation." This means that if you do not take legal action within a certain period of time, your claim will be barred and you will not be able to get relief from the courts. For instance, the statute of limitation for many personal injury actions in
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Erik M.P. Black
Source: Why Wonderful Life Comes but Once a Year - Slate Magazine, http://www.slate.com/articles/news_and_politics/explainer/1999/12/why_wonderful_life_comes_but_once_a_year.html