2015 Arizona Revised Statutes
Title 47 - Uniform Commercial Code
§ 47-5115 Statute of limitations

AZ Rev Stat § 47-5115 (2015) What's This?

47-5115. Statute of limitations

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 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.

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