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2018 Georgia Code 11-3-117 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 11-3-117 Case Law from Google Scholar Amendments to OCGA 11-3-117

TITLE 11 COMMERCIAL CODE

Section 3. Negotiable Instruments, 11-3-101 through 11-3-605.

ARTICLE 3 NEGOTIABLE INSTRUMENTS

11-3-117. Other agreements affecting instrument.

Subject to applicable law regarding exclusion of proof of contemporaneous or previous agreements, the obligation of a party to an instrument to pay the instrument may be modified, supplemented, or nullified by a separate agreement of the obligor and a person entitled to enforce the instrument, if the instrument is issued or the obligation is incurred in reliance on the agreement or as part of the same transaction giving rise to the agreement. To the extent an obligation is modified, supplemented, or nullified by an agreement under this Code section, the agreement is a defense to the obligation.

(Code 1981, §11-3-117, enacted by Ga. L. 1996, p. 1306, § 3; Ga. L. 1997, p. 143, § 11.)

Law reviews.

- For article discussing parol evidence in the law of commercial paper, see 13 Ga. L. Rev. 53 (1978). For comment on Geiger Fin. Co. v. Graham, 123 Ga. App. 771, 182 S.E.2d 521 (1971), see 8 Ga. St. B.J. 400 (1972).

JUDICIAL DECISIONS

Modification of obligation.

- Although it was true that the obligation of a party to an instrument could be modified, the bank was entitled to summary judgment on its breach of contract claim, which alleged that the obligors executed two promissory notes, that the notes were later in default, that the obligors did not have a defense, especially since the obligors did not show how modification agreements, to which the obligors were not parties, relieved them of their obligations on the notes. Reece v. Chestatee State Bank, 260 Ga. App. 136, 579 S.E.2d 11 (2003).

RESEARCH REFERENCES

Am. Jur. 2d.

- 11 Am. Jur. 2d, Bills and Notes, §§ 52, 127, 131 et seq., 300. 12 Am. Jur. 2d, Bills and Notes, § 671. 69 Am. Jur. 2d, Secured Transactions, § 448.

C.J.S.

- 10 C.J.S., Bills and Notes, §§ 90, 103, et seq.

U.L.A.

- Uniform Commercial Code (U.L.A.) § 3-117.

ALR.

- Negotiability as affected by provisions for extension of time, 77 A.L.R. 1085.

Waiver of demand and notice as affecting indorsers other than the one above whose name it immediately appears, 110 A.L.R. 1228.

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