N.Y. General Obligations Law § 5-1604: Application

§ 5-1604. Application. 1. Notwithstanding the uniform commercial code

or any other law of this state, this title shall apply to all contracts,

securities and instruments, including contracts with respect to

commercial transactions, and shall not be deemed to be displaced by any

other law of this state.

2. In circumstances of currency alteration, other than the

introduction of the euro, the provisions of this title shall not be

interpreted as creating any negative inference or negative presumption

regarding the validity or enforceability of contracts, securities or

instruments denominated in whole or in part in a currency affected by

such alteration.