§ 5-1103. Written agreement for modification or discharge. An\nagreement, promise or undertaking to change or modify, or to discharge\nin whole or in part, any contract, obligation, or lease, or any mortgage\nor other security interest in personal or real property, shall not be\ninvalid because of the absence of consideration, provided that the\nagreement, promise or undertaking changing, modifying, or discharging\nsuch contract, obligation, lease, mortgage or security interest, shall\nbe in writing and signed by the party against whom it is sought to\nenforce the change, modification or discharge, or by his agent.\n
N.Y. Gen. Oblig. Law § 5-1103
Written agreement for modification or discharge
Applied in 6 court decisions — leading case Ally Financial Inc. v. Wells Fargo Bank, N.A. (In re Residential Capital, LLC) (2015)
Most recently applied in Zhang Chang v. Phillips Auctioneers LLC (March 2022)
2014-09-22
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.