403.601 Discharge and effect of discharge.
403.601
SUBCHAPTER VIDISCHARGE AND PAYMENT
403.601 Discharge and effect of discharge.
403.601(1)
(1) The obligation of a party to pay the instrument is discharged as stated in this chapter or by an act or agreement with the party which would discharge an obligation to pay money under a simple contract.403.601(2)
(2) 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.403.601 - ANNOT.
History: 1995 a. 449.