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.
Tex. Bus. & Com. Code § 5.115
STATUTE OF LIMITATIONS
Known as the Uniform Commercial Code
The act spans §§ 1–12 (616 sections).
Applied in 1 court decision — leading case East Girard Savings Association v. Citizens National Bank and Trust Company of Baytown
Amended by Acts 1999, 76th Leg., ch. 4, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.