If a party feels he has been wronged, what law sets the deadline for initiating legal proceedings?

Statute of Limitations.

Explanation:What Is the Statute of Limitations?

A statute of limitations is a law which determines a maximum time in which a plaintiff or a victim can still take their case to court.

A victim is given a particular person to take legal action towards the offender after which when this time is passed the case will no longer be valid in court.

The time given to a victim to bring a case in court depends on type of offence cause statues of limitation apply mostly in civil cases.

For example for a person to sue someone on medical malpractice they will need to do that within two years after that the victim can not longer bring the case forward and that is the statute of limitations.

Some criminal offences do have statute of limitations except major crimes such as murder and kidnapping , these do not have statute of limitations.

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the answer to your question is,

old stone age.

-mabel < 3