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.
Laws 1961, p. 118, § 3-601; Laws 1991, c. 117, § 89, eff. Jan. 1, 1992.
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