Florida Statute 675.115 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 675
UNIFORM COMMERCIAL CODE: LETTERS OF CREDIT

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675.115 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.—s. 1, ch. 65-254; s. 619, ch. 97-102; s. 1, ch. 99-137.

Note.—s. 5-115, U.C.C.

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Amendments to 675.115

Annotations, Discussions, Cases:

Cases Citing Statute 675.115

Total Results: 2 | Sort by: Relevance | Newest First

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Gathercrest Ltd. v. First Am. Bank & Trust, 649 F. Supp. 106 (M.D. Fla. 1985).

Cited 9 times | Published | District Court, M.D. Florida | 1985 U.S. Dist. LEXIS 18147

...However, attorney's fees are not specified in the statute or the official comment. Further, in Florida National Bank at Gainesille v. Alfred and Ann Goldstein Foundation, Inc., 327 So.2d at 111, the Court held that UCC 5-115 (§ 675.5-115, re-numbered § 675.115), which provides for incidental damages, does not allow for an award of attorney's fees as costs or damages....

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Fla. Nat. Bk. v. Alfred, Ann Goldstein Found., Inc., 327 So. 2d 110 (Fla. 1st DCA 1976).

Cited 3 times | Published | Florida 1st District Court of Appeal | 18 U.C.C. Rep. Serv. (West) 850

...BOYER, Chief Judge. Appellant issued an irrevocable letter of credit which was dishonored upon presentation. Appellee filed suit seeking damages including attorneys' fees. The learned trial judge entered a summary final judgment in favor of appellee holding that F.S. 675.115 and F.S....

...1956, 85 So.2d 619; Gullette v. Ochoa, Fla.App.1st, 1958, 104 So.2d 799) However, in appropriate cases attorneys' fees may constitute an element of recoverable damages. ( Glusman v. Lieberman, Fla.App.4th, 1973, 285 So.2d 29, and cases therein cited). Construing F.S. 675.115 and F.S....

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