Legislation
SECTION 5-1604
Application
General Obligations (GOB) CHAPTER 24-A, ARTICLE 5, TITLE 16
§ 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.
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.