Definitions of limitation:

• noun:   an act of limiting or restricting (as by regulation)
• noun:   the quality of being limited or restricted

  Example: "It is a good plan but it has serious limitations"

• noun:   (law) a time period after which suits cannot be brought

  Example: "Statute of limitations"

• noun:   a principle that limits the extent of something
• noun:   the greatest amount of something that is possible or allowed

  Example: "It is growing rapidly with no limitation in sight"