clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e
  Maryland State Archives | Index | Help | Search search for:
clear space
white space
Session Laws, 1963
Volume 671, Page 833   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

J. MILLARD TAWES, Governor                      835

(b)  states its consideration, whether performed or promised, or
the transaction which gave rise to the instrument, or that the promise
or order is made or the instrument matures in accordance with or
"as per" such transaction; or

(c)  refers to or states that it arises out of a separate agreement or
refers to a separate agreement for rights as to prepayment or ac-
celeration; or

(d)  states that it is drawn under a letter of credit; or

(e)  states that is is secured, whether by mortgage, reservation of
title or otherwise; or

(f)  indicates a particular account to be debited or any other fund
or source from which reimbursement is expected; or

(g)  is limited to payment out of a particular fund or the proceeds
of a particular source, if the instrument is issued by a government
or governmental agency or unit; or

(h) is limited to payment out of the entire assets of a partnership,
unincorporated association, trust or estate by or on behalf of which
the instrument is issued.

(2) A promise or order is not unconditional if the instrument

(a)  states that it is subject to or governed by any other agree-
ment; or

(b)  states that it is to be paid only out of a particular fund or
source except as provided in this section.

3106. Sum Certain.

(1)   The sum payable is a sum certain even though it is to be paid

(a)  with stated 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 de-
fault.

(2)  Nothing in this section shall validate any term which is other-
wise illegal.

3107. Money.

(1)  An instrument is payable in money if the medium of exchange
in which it is payable is money at the time the instrument is made.
An instrument payable in "currency" or "current funds" is payable
in money.

(2)  A promise or order to pay a sum stated in a foreign currency
is for a sum certain in money and, unless a different medium of pay-
ment is specified in the instrument, may be satisfied by payment of


 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1963
Volume 671, Page 833   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  November 18, 2025
Maryland State Archives