§ 41-05-15 — (5-115) Statute of limitations

North Dakota § 41-05-15

• Jurisdiction: North Dakota
• Title 41: Uniform Commercial Code
• Ch. 41-05: Letters of Credit

Text

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 claim
for relief accrues, whichever occurs later. A claim for relief accrues when the breach occurs,
regardless of the aggrieved party's lack of knowledge of the breach.