California Commercial Code
Sec. § 5115


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 partys lack of knowledge of the breach.
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Last accessed
Jun. 6, 2016