New York Laws
Part 1 - Short Title, Form and Interpretation
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.

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