General Obligations Law 5-1103 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 5-1101 Agreements relating to securities up TITLE 11 Consideration; Effect of Writing On Requirement of Consideration next SECTION 5-1105 Written promise expressing past consideration Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 5-1103 Written agreement for modification or discharge General Obligations (GOB) CHAPTER 24-A, ARTICLE 5, TITLE 11 § 5-1103. Written agreement for modification or discharge. An agreement, promise or undertaking to change or modify, or to discharge in whole or in part, any contract, obligation, or lease, or any mortgage or other security interest in personal or real property, shall not be invalid because of the absence of consideration, provided that the agreement, promise or undertaking changing, modifying, or discharging such contract, obligation, lease, mortgage or security interest, shall be in writing and signed by the party against whom it is sought to enforce the change, modification or discharge, or by his agent.