Arkansas Statutes
§ 4-5-115 — Statute of limitations
Arkansas·Title 4
An action to enforce a right or obligation arising under this chapter 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.
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Related
David Viele; Beth Viele, Individually and as Trustee for the Helen E. Viele Irrevocable Trust; And Beth's Bail Bonds, Inc. v. Corey Williams, in His Capacity as a Vice President of Centennial Bank; Ashley Moran, in Her Capacity as a Clerk for Centennial Bank; And Centennial Bank
2021 Ark. App. 231 (Court of Appeals of Arkansas, 2021)
Legislative History
Acts 1997, No. 1070, § 1.
Nearby Sections
15
§ 4-1-101
Short titles§ 4-1-102
Scope of subtitle§ 4-1-104
Construction against implicit repeal§ 4-1-105
Severability§ 4-1-106
Use of singular and plural - Gender§ 4-1-107
Section captions§ 4-1-201
General definitions§ 4-1-202
Notice - Knowledge§ 4-1-204
Value§ 4-1-205
Reasonable time - Seasonableness§ 4-1-206
Presumptions