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2025 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 075 - Letters of Credit
Section 75.1150 - Statute of limitations.
Universal Citation:
OR Rev Stat § 75.1150 (2025)
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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. [1961 c.726 §75.1150; 1997 c.150 §18]
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