As Amended
SEC. 75-3-601. 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.
SOURCES: Former Sec. 75-3-601: Codes, 1942, Sec. 41A:3-601; Laws, 1966, ch. 316, Sec. 3-601, eff March 31, 1968. Laws, 1992, ch. 420, Sec. 64, eff from and after January 1, 1993.