There is a newer version of the Tennessee Code
2010 Tennessee Code
Title 47 - Commercial Instruments And Transactions
Chapter 5 - Letters of Credit
47-5-115 - Statute of limitations.
47-5-115. Statute of limitations.
An action to enforce a right or obligation arising under this article must be commenced within one (1) year after the expiration date of the relevant letter of credit or one (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.
[Acts 1998, ch. 675, § 1.]
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