N.Y. General Business Law § 550: Negotiable notes given for patent rights

§ 550. Negotiable notes given for patent rights. Notwithstanding

article three of the uniform commercial code, a negotiable promissory

note, the consideration of which consists wholly or partly of the right

to make, use or sell any invention claimed or represented by the vendor

at the time of sale to be patented, must contain the words "given for a

patent right" prominently and legibly written or printed on the face of

such note above the signature thereto; and such note in the hands of any

purchaser or holder is subject to the same defenses as in the hands of

the original holder; but this section does not apply to a negotiable

note given solely for the purchase price or the use of a patented

article.