Article 3-A: NEGOTIABLE INSTRUMENTS HEADING: PL 1993, C. 293, PT, A, §2 (NEW)
Part 6: DISCHARGE AND PAYMENT HEADING: PL 1993, C. 293, PT. A, §2 (NEW)
§3-1601. Discharge and effect of discharge
(1). 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 that would discharge an obligation to pay money under a simple contract.
[ 1993, c. 293, Pt. A, §2 (NEW) .]
(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.
Article 3-A: NEGOTIABLE INSTRUMENTS HEADING: PL 1993, C. 293, PT, A, §2 (NEW)
Part 6: DISCHARGE AND PAYMENT HEADING: PL 1993, C. 293, PT. A, §2 (NEW)
§3-1601. Discharge and effect of discharge
(1). 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 that would discharge an obligation to pay money under a simple contract.
[ 1993, c. 293, Pt. A, §2 (NEW) .]
(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.
Article 3-A: NEGOTIABLE INSTRUMENTS HEADING: PL 1993, C. 293, PT, A, §2 (NEW)
Part 6: DISCHARGE AND PAYMENT HEADING: PL 1993, C. 293, PT. A, §2 (NEW)
§3-1601. Discharge and effect of discharge
(1). 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 that would discharge an obligation to pay money under a simple contract.
[ 1993, c. 293, Pt. A, §2 (NEW) .]
(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.
