General Obligations Law 5-1101 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search up TITLE 11 Consideration; Effect of Writing On Requirement of Consideration next SECTION 5-1103 Written agreement for modification or discharge Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 5-1101 Agreements relating to securities General Obligations (GOB) CHAPTER 24-A, ARTICLE 5, TITLE 11 § 5-1101. Agreements relating to securities. An agreement, promise or undertaking for the purchase, sale, transfer, assignment or delivery of a certificate or other evidence of debt, issued by the United States or by any state, or a municipal or other corporation, or of any share or interest in the stock of any bank corporation or joint stock association, incorporated or organized under the laws of the United States or of any state, is not void or voidable, for want of consideration, or because of the nonpayment of consideration, or because the vendor, at the time of making such contract, is not the owner or possessor of the certificate or certificates or other evidence of debt, share or interest.