675.115 Statute of limitations.—An 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.—s. 5-115, U.C.C.
Section: Previous 675.106 675.107 675.108 675.109 675.110 675.111 675.112 675.113 675.114 675.115 675.116 675.117 675.118 675.1181 NextLast modified: September 23, 2016