675.115 Statute of limitations. - Florida Statutes

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.