N.Y. Uniform Commercial Code § 3-802 (2026)

Section 3--802. Effect of Instrument on Obligation for Which It Is
                  Given.
  (1) Unless otherwise agreed where an instrument is taken for an
underlying obligation
       (a) the obligation is pro tanto discharged if a bank is drawer,
           maker or acceptor of the instrument and there is no recourse
           on the instrument against the underlying obligor; and
       (b) in any other case the obligation is suspended pro tanto until
           the instrument is due or if it is payable on demand until its
           presentment. If the instrument is dishonored action may be
           maintained on either the instrument or the obligation;
           discharge of the underlying obligor on the instrument also
           discharges him on the obligation.
  (2) The taking in good faith of a check which is not postdated does
not of itself so extend the time on the original obligation as to
discharge a surety.