28-3-601 DISCHARGE AND EFFECT OF DISCHARGE. - Idaho Statutes

TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 3

UNIFORM COMMERCIAL CODE -- NEGOTIABLE INSTRUMENTS

PART 6.

DISCHARGE AND PAYMENT

28-3-601. Discharge and effect of discharge. (1) 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.

(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.