§ 25-3-117. Other agreements affecting instrument. - North Carolina Statutes

§25‑3‑117.  Other agreements affecting instrument.

Subject to applicable lawregarding exclusion of proof of contemporaneous or previous agreements, theobligation 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 personentitled to enforce the instrument, if the instrument is issued or theobligation is incurred in reliance on the agreement or as part of the sametransaction giving rise to the agreement. To the extent an obligation ismodified, supplemented, or nullified by an agreement under this section, theagreement is a defense to the obligation. (1965, c. 700, s. 1; 1995, c.232, s. 1.)