PART 6. 
DISCHARGE AND PAYMENT



 



§490:3-601  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. [L 1991, c 118, pt of §1]