70A-3-601 - Discharge and effect of discharge.
70A-3-601. Discharge and effect of discharge.
(1) The obligation of a party to pay the instrument is discharged as stated in this chapteror by an act or agreement with the party which would discharge an obligation to pay money undera simple contract.
(2) Discharge of the obligation of a party is not effective against a person acquiring rightsof a holder in due course of the instrument without notice of the discharge.
Repealed and Re-enacted by Chapter 237, 1993 General Session