New York § 3-106 Sum Certain

New York Statutes

§ 3-106 — Sum Certain

New York § 3-106

Law UCCUniform Commercial Code

Part 1Short Title, Form and Interpretation

Art. 3Commercial Paper

This text of New York § 3-106 (Sum Certain) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Uniform Commercial Code § 3-106 (2026).

Text

Section 3--106. Sum Certain.\n  (1) The sum payable is a sum certain even though it is to be paid\n       (a) with a stated rate of interest or by stated installments; or\n       (b) with stated different rates of interest before and after\n           default or a specified date; or\n       (c) with a stated discount or addition if paid before or after\n           the date fixed for payment; or\n       (d) with exchange or less exchange, whether at a fixed rate or at\n           the current rate; or\n       (e) with costs of collection or an attorney's fee or both upon\n           default.\n  (2) For the purposes of subsection one of this section "a stated rate\nof interest" shall also include a rate of interest that cannot be\ncalculated by looking only to the instrument but which is read

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Section 3--106. Sum Certain.\n (1) The sum payable is a sum certain even though it is to be paid\n (a) with a stated rate of interest or by stated installments; or\n (b) with stated different rates of interest before and after\n default or a specified date; or\n (c) with a stated discount or addition if paid before or after\n the date fixed for payment; or\n (d) with exchange or less exchange, whether at a fixed rate or at\n the current rate; or\n (e) with costs of collection or an attorney's fee or both upon\n default.\n (2) For the purposes of subsection one of this section "a stated rate\nof interest" shall also include a rate of interest that cannot be\ncalculated by looking only to the instrument but which is readily\nascertainable by a reference in the instrument to a published statute,\nregulation, rule of court, generally accepted commercial or financial\nindex, compendium of interest rates, or announced rate of a named\nfinancial institution.\n (3) Nothing in this section shall validate any term which is otherwise\nillegal.\n