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New York Consolidated Laws, Uniform Commercial Code - UCC § 3-106. Sum Certain

Current as of January 01, 2026 | Updated by Findlaw Staff

(1) The sum payable is a sum certain even though it is to be paid

(a) with a stated rate of interest or by stated installments;  or

(b) with stated different rates of interest before and after default or a specified date;  or

(c) with a stated discount or addition if paid before or after the date fixed for payment;  or

(d) with exchange or less exchange, whether at a fixed rate or at the current rate;  or

(e) with costs of collection or an attorney's fee or both upon default.

(2) For the purposes of subsection one of this section “a stated rate of interest” shall also include a rate of interest that cannot be calculated by looking only to the instrument but which is readily ascertainable by a reference in the instrument to a published statute, regulation, rule of court, generally accepted commercial or financial index, compendium of interest rates, or announced rate of a named financial institution.

(3) Nothing in this section shall validate any term which is otherwise illegal.

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Cite this article: FindLaw.com - New York Consolidated Laws, Uniform Commercial Code - UCC § 3-106. Sum Certain - last updated January 01, 2026 | https://codes.findlaw.com/ny/uniform-commercial-code/ucc-sect-3-106/

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