New York Laws
Part 1 - Short Title, Form and Interpretation
3-112 - Terms and Omissions Not Affecting Negotiability.

(1) The negotiability of an instrument is not affected by
(a) the omission of a statement of any consideration or of the
place where the instrument is drawn or payable; or
(b) a statement that collateral has been given to secure
obligations either on the instrument or otherwise of an
obligor on the instrument or that in the case of default on
those obligations the holder may realize on or dispose of the
collateral; or
(c) a promise or power to maintain or protect collateral or to
give additional collateral; or
(d) a term authorizing a confession of judgment on the instrument
if it is not paid when due; or
(e) a term purporting to waive the benefit of any law intended
for the advantage or protection of any obligor; or
(f) a term in a draft providing that the payee by indorsing or
cashing it acknowledges full satisfaction of an obligation of
the drawer; or
(g) a statement in a draft drawn in a set of parts (Section
3--801) to the effect that the order is effective only if no
other part has been honored.
(2) Nothing in this section shall validate any term which is otherwise
illegal.