Code · Louisiana · Title 10 — Commercial Laws

RS 10:3-601

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

RS 10:3-601

PART 6. DISCHARGE AND PAYMENT

§3-601. Discharge and effect of discharge

(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.

Acts 1992, No. 1133, §3, eff. July 1, 1993; Acts 1993, No. 948, §10, eff. Jan. 1, 1994.