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TeachMeFinance.com - explain Outlawed historic definition... Outlawed -- An outlawed account or claim is one upon which suit is barred by the statute of limitations; it is an account or claim which the creditor has so long delayed in enforcing that the courts, acting under the statute, decline to assist him in collecting it. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.