Skip to main content
CourtGPT logoCourtGPT
Directory
Law
For Attorneys
Blog
AppointmentsSign InSign Up
550 — New York Law | CourtGPT
  1. Home/
  2. Laws/
  3. New York/
  4. Gbs - General Business/
  5. Article 29-d - Notes Given for Patent Rights and for A Speculative Consideration550 - Negotiable Notes Given for Patent Rights/
  6. 550
New York Legal Code

550

Ask AI about this
Notwithstanding article three of the uniform commercial code, a negotiable promissory note, the consideration of which consists wholly or partly of the right to make, use or sell any invention claimed or represented by the vendor at the time of sale to be patented, must contain the words 'given for a patent right' prominently and legibly written or printed on the face of such note above the signature thereto; and such note in the hands of any purchaser or holder is subject to the same defenses as in the hands of the original holder; but this section does not apply to a negotiable note given solely for the purchase price or the use of a patented article.