§ 5-115. 5-115
66 words·~1 min read·
/us/ucc/a5/s5-115A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An action to enforce a right or obligation arising under this article must be commenced within one year after the expiration date of the relevant letter of credit or one year after the [claim for relief] [cause of action] accrues, whichever occurs later. A [claim for relief] [cause of action] accrues when the breach occurs, regardless of the aggrieved party's lack of knowledge of the breach.