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Code · Vermont · Vermont Statutes

§ 3—601.

87 words·~1 min read·/vt/3-64

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§ 3—601. Discharge and effect of discharge
(a)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 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. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)
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