SECTION 675.115. Statute of limitations.

Latest version.

1An action to enforce a right or obligation arising under this chapter must be commenced within 1 year after the expiration date of the relevant letter of credit or 1 year after the cause of action accrues, whichever occurs later. A cause of action accrues when the breach occurs, regardless of the aggrieved party’s lack of knowledge of the breach.

History.-s. 1, ch. 65-254; s. 619, ch. 97-102; s. 1, ch. 99-137.

Note

Note.-s. 5-115, U.C.C.

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