Alabama Statutes
§ 7-3-601 — 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.
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Legislative History
(Acts 1965, No. 549, p. 811; repealed by Acts 1995, No. 95-668, p. 1381, §1; added by Acts 1995, No. 95-668, p. 1381, §1.)
Nearby Sections
15
§ 7-1-101
Short Titles§ 7-1-102
Scope of Article§ 7-1-104
Construction Against Implied Repeal§ 7-1-105
Severability§ 7-1-106
Use of Singular and Plural; Gender§ 7-1-107
Section Captions§ 7-1-109
Section Captions§ 7-1-201
General Definitions§ 7-1-202
Notice; Knowledge§ 7-1-204
Value§ 7-1-205
Reasonable Time; Seasonableness§ 7-1-206
Presumptions