Georgia Statutes
§ 11-5-115 — Statute of limitations
Georgia·Title 11
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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Related
Dibrell Brothers International S.A., Plaintiff-Counter-Defendant-Appellant v. Banca Nazionale Del Lavoro, Defendant-Counter-Claimant-Appellee
38 F.3d 1571 (Eleventh Circuit, 1994)
Legislative History
Added by 2002 Ga. Laws 874,§ 1, eff. 7/1/2002. A former section with this number was repealed and reenacted by Ga. Laws 874, § 1.
Nearby Sections
15
§ 11-1-101
Short titles§ 11-1-102
Scope of article§ 11-1-104
Construction against implicit repeal§ 11-1-105
Severability§ 11-1-106
Use of singular and plural; gender§ 11-1-107
Section captions§ 11-1-201
General definitions§ 11-1-202
Notice; knowledge§ 11-1-204
Value§ 11-1-205
Reasonable time; seasonableness§ 11-1-206
Presumptions