2016 New York Laws
UCC - Uniform Commercial Code
Article 3 - COMMERCIAL PAPER
Part 1 - (3-101 - 3-122) SHORT TITLE, FORM AND INTERPRETATION
3-106 - Sum Certain.

Section 3--106. Sum Certain.
(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.