New York § 3-105 When Promise or Order Unconditional

New York Statutes

§ 3-105 — When Promise or Order Unconditional

New York § 3-105

Law UCCUniform Commercial Code

Part 1Short Title, Form and Interpretation

Art. 3Commercial Paper

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Bluebook

N.Y. Uniform Commercial Code § 3-105 (2026).

Text

Section 3--105. When Promise or Order Unconditional.\n  (1) A promise or order otherwise unconditional is not made conditional\nby the fact that the instrument\n       (a) is subject to implied or constructive conditions; or\n       (b) states its consideration, whether performed or promised, or\n           the transaction which gave rise to the instrument, or that\n           the promise or order is made or the instrument matures in\n           accordance with or "as per" such transaction; or\n       (c) refers to or states that it arises out of a separate\n           agreement or refers to a separate agreement for rights as to\n           prepayment or acceleration; or\n       (d) states that it is drawn under a letter of credit; or\n       (e) states that it is secured, whether by mortg

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Section 3--105. When Promise or Order Unconditional.\n (1) A promise or order otherwise unconditional is not made conditional\nby the fact that the instrument\n (a) is subject to implied or constructive conditions; or\n (b) states its consideration, whether performed or promised, or\n the transaction which gave rise to the instrument, or that\n the promise or order is made or the instrument matures in\n accordance with or "as per" such transaction; or\n (c) refers to or states that it arises out of a separate\n agreement or refers to a separate agreement for rights as to\n prepayment or acceleration; or\n (d) states that it is drawn under a letter of credit; or\n (e) states that it is secured, whether by mortgage, reservation\n of title or otherwise; or\n (f) indicates a particular account to be debited or any other\n fund or source from which reimbursement is expected; or\n (g) is limited to payment out of a particular fund or the\n proceeds of a particular source, if the instrument is issued\n by a government or governmental agency or unit; or\n (h) is limited to payment out of the entire assets of a\n partnership, unincorporated association, trust or estate by\n or on behalf of which the instrument is issued.\n (2) A promise or order is not unconditional if the instrument\n (a) states that it is subject to or governed by any other\n agreement; or\n (b) states that it is to be paid only out of a particular fund or\n source except as provided in this section.\n