{"data":{"id":"us-ny/n.y.-uniform-commercial-code-law-3-106","jurisdiction":"us-ny","citation":"N.Y. Uniform Commercial Code Law § 3-106","heading":"Sum Certain","body":"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.","path":["Uniform Commercial Code Law","Article 3. Commercial Paper","Part 1. Short Title, Form and Interpretation"],"source_url":"https://legislation.nysenate.gov/api/3/laws/UCC/3-106","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:45Z","sha256":"f812740f6e373795182033e4beddd82bf526107f9d15cf2fbf8f72edc14d2fd0","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-uniform-commercial-code-law-3-105","next":"us-ny/n.y.-uniform-commercial-code-law-3-107"},"notice":"GroundRules: Original legal text. Not legal advice."}