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2012 Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Article 3-A: NEGOTIABLE INSTRUMENTS
11 §3-1601. Discharge and effect of discharge


11 ME Rev Stat § 3-1601 (2012 through 125th Legis) What's This?

Part 6: DISCHARGE AND PAYMENT

§3-1601. Discharge and effect of discharge

(1). 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 that would discharge an obligation to pay money under a simple contract.

[ 1993, c. 293, Pt. A, §2 (NEW) .]

(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.

[ 1993, c. 293, Pt. A, §2 (NEW) .]

SECTION HISTORY

1993, c. 293, §A2 (NEW).

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