Maine Revised Statutes

§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).