Sec. 5. Additional provisions not affecting negotiability. - Act 2031

An instrument which contains an order or promise to do any act in addition to the payment of money is not negotiable. But the negotiable character of an instrument otherwise negotiable is not affected by a provision which:

(a) authorizes the sale of collateral securities in case the instrument be not paid at maturity; or 
(b) authorizes a confession of judgment if the instrument be not paid at maturity; or 
(c) waives the benefit of any law intended for the advantage or protection of the obligor; or 
(d) gives the holder an election to require something to be done in lieu of payment of money.

But nothing in this section shall validate any provision or stipulation otherwise illegal. (Negotiable Instruments Law; Act 2031)

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