State Codes and Statutes

Statutes > New-jersey > Title-12a > Section-12a-3 > 12a-3-601

12A:3-601.     Discharge and effect of discharge
a.     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.

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.1995,c.28,s.1.

State Codes and Statutes

Statutes > New-jersey > Title-12a > Section-12a-3 > 12a-3-601

12A:3-601.     Discharge and effect of discharge
a.     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.

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.1995,c.28,s.1.