Section 3-601 - Discharge and effect of discharge. - Maryland Statutes

§ 3-601. Discharge and effect of discharge.
 

(a)  The obligation of a party to pay the instrument is discharged as stated in this title 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. 
 

[1996, ch. 91, § 2.]