Cite as: 80 CNCA § 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.

Historical Data

LA 26–03, eff. October 2, 2003.