N.J.S.A. 12A:5-115

Statute of limitations.

12A:5-115 Statute of limitations. 12A:5-115. Statute of Limitations. An action to enforce a right or obligation arising under this chapter must be commenced within one year after the expiration date of the relevant letter of credit or one 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. L.1997,c.395,s.1.

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This is the verbatim text of N.J.S.A. 12A:5-115, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.

N.J.S.A. 12A:5-115 — Statute of limitations. | Kyzer