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 which would discharge an obligation to pay money under a simple contract.
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.
94 Acts, ch 1167, §73, 121, 122
Effective July 1, 1995; 94 Acts, ch 1167, §122; former section repealed effective July 1, 1995; 94 Acts, ch 1167, §121, 122; for law prior to July 1, 1995, see Code 1993
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Last update: Thu Mar 18 15:00:31 CST 1999
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