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November 23, 2024 Rain | 44°F
The 193rd General Court of the Commonwealth of Massachusetts
  1. General Laws
  2. Part I ADMINISTRATION OF THE GOVERNMENT
  3. Title XV REGULATION OF TRADE
  4. Chapter 106 UNIFORM COMMERCIAL CODE
  5. Article 3 NEGOTIABLE INSTRUMENTS
  6. Section 3-601 Discharge and Effect of Discharge

Section 3-601

Section 3-601: Discharge and Effect of Discharge

Section 3–601. (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.