Mich. Comp. Laws § 440.5115
Commencement of action.
Michigan · Michigan Compiled Laws — UNIFORM COMMERCIAL CODE (Act 174 of 1962) · Status: effective
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- Citation
- Mich. Comp. Laws § 440.5115, Commencement of action, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1362098
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Full text
An action to enforce a right or obligation arising under this article must be commenced within 1 year after the expiration date of the relevant letter of credit or 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.