“Laches is neglect or failure on the part of a plaintiff in the assertion of a right that, when taken in conjunction with a more or less lengthy period of time, and also in connection with other circumstances prejudicial to the defendant, will operate as a bar in equity to the successful maintenance of the plaintiff’s cause of action. . . ‘The elements of laches are (1) the failure to assert a right (2) for some appreciable period so as to amount to unreasonable delay (3) which results in prejudice to the adverse party.'”
[California Affirmative Defenses [certain citations omitted]]
