{"data":{"id":"us-mi/mich.-comp.-laws-440.5115","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 440.5115","heading":"Commencement of action.","body":"Sec. 5115.\n\nAn 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.","path":["MI Code","Chapter 440","Act Act-174-of-1962"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-440-5115","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"c647dfbf9ab65a967b5f3960d551e8786fdd71b677e231eb7a9860579c5db1bf","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-440.5114","next":"us-mi/mich.-comp.-laws-440.5116"},"notice":"GroundRules: Original legal text. Not legal advice."}