8.3A-601 - A-601. Discharge and effect of discharge. - Virginia Statutes

§ 8.3A-601. Discharge and effect of discharge.

(a) The obligation of a party to pay the instrument is discharged as statedin this title or by an act or agreement with the party which would dischargean obligation to pay money under a simple contract.

(b) Discharge of the obligation of a party is not effective against a personacquiring rights of a holder in due course of the instrument without noticeof the discharge.

(Code 1950, §§ 6-367, 6-368, 6-409, 6-472 through 6-474; 1964, c. 219, §§8.3-305, 8.3-601, 8.3-602; 1992, c. 693.)