There is a newer version of the Arkansas Code
2015 Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 3 - Negotiable Instruments
Part 6 - Discharge and Payment
§ 4-3-601 - Discharge and effect of discharge.
AR Code § 4-3-601 (2015) What's This?
(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.
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