Tennessee § 47-5-115 - Statute of limitations.
Full text of Tennessee Tennessee Code Annotated § 47-5-115 — Statute of limitations., with citation guidance and answers to common questions.
§ 47-5-115. Statute of limitations.
An action to enforce a right or obligation arising under this article must be commenced within one (1) year after the expiration date of the relevant letter of credit or one (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. Acts 1998, ch. 675, § 1. Compiler's Notes. For repeal of former § 47-5-115 in 1998, see the Compiler's Notes under § 47-5-101 . Cited: Talbot v. Bank of Hendersonville, 495 S.W.2d 548, 1972 Tenn. App. LEXIS 303 (Tenn. Ct. App. 1972); Bossier Bank & Trust Co. v. Union Planters Nat'l Bank, 550 F.2d 1077, 1977 U.S. App. LEXIS 14419 (6th Cir. Tenn. 1977). Collateral References. Damages recoverable for wrongful dishonor of letter of credit under UCC § 5-115. 2 A.L.R.4th 665.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 47-5-115
What does Tennessee Code Annotated § 47-5-115 cover?
Section 47-5-115 ("Statute of limitations.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 47-5-115?
A common citation format is "Tennessee Code Annotated § 47-5-115" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 47-5-115 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.