§ 3117. Other agreements affecting instrument
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 13 Pa.C.S.A. Commercial Code
13 Pa.C.S.A. § 3117
§ 3117. Other agreements affecting instrument
Subject to applicable law regarding exclusion of proof of contemporaneous or previous agreements, the obligation of a party to an instrument to pay the instrument may be modified, supplemented or nullified by a separate agreement of the obligor and a person entitled to enforce the instrument if the instrument is issued or the obligation is incurred in reliance on the agreement or as part of the same transaction giving rise to the agreement. To the extent an obligation is modified, supplemented or nullified by an agreement under this section, the agreement is a defense to the obligation.
Credits
1992, July 9, P.L. 507, No. 97, § 5, effective in one year.
13 Pa.C.S.A. § 3117, PA ST 13 Pa.C.S.A. § 3117
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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