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84-3-601. Discharge and effect of discharge. (a) The obligation of a party to pay the instrument is discharged as stated in this article or by an act or agreement with the party which would discharge an obligation to pay money under a simple contract.

(b) Discharge of the obligation of a party is not effective against a person acquiring rights of a holder in due course of the instrument without notice of the discharge.

History: L. 1991, ch. 296, § 63; Feb. 1, 1992.

Revisor's Note:

Former section 84-3-601 was repealed by L. 1991, ch. 296, § 111 and the number reassigned to the current text.


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