Montana Code Annotated 2017

TITLE 30. TRADE AND COMMERCE

CHAPTER 5. UNIFORM COMMERCIAL CODE LETTERS OF CREDIT

Part 1. Letters of Credit

Statute Of Limitations

30-5-135. Statute of limitations. An action to enforce a right or obligation arising under this chapter 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.

History: En. Sec. 19, Ch. 536, L. 1997.