N.Y. General Obligations Law 17-101 – Acknowledgment or new promise must be in writing
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§ 17-101. Acknowledgment or new promise must be in writing. An acknowledgment or promise contained in a writing signed by the party to be charged thereby is the only competent evidence of a new or continuing contract whereby to take an action out of the operation of the provisions of limitations of time for commencing actions under the civil practice law and rules other than an action for the recovery of real property. This section does not alter the effect of a payment of principal or interest.
Terms Used In N.Y. General Obligations Law 17-101
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.