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 section, the agreement is a defense to the obligation.
S.C. Code Ann. § 36-3-117
Other agreements affecting instrument
Known as the Uniform Commercial Code
The act spans §§ 36–36 (519 sections).
Applied in 1 court decision — leading case In RE McFADDEN (2012)
Most recently applied in In RE McFADDEN (May 2012)
1962 Code SECTION 10.3-117; 1966 (54) 2716; 2008 Act No. 204, SECTION 2, eff July 1, 2008.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.