Illinois Statutes
§ 3-601 — Discharge and effect of discharge
Illinois·Topic BUSINESS AND EMPLOYMENT·Ch. 810 COMMERCIAL CODE·Act 810 ILCS 5/ Uniform Commercial Code.·Art. Article 3 - Negotiable Instruments
(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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Illinois § 3-601 (Discharge and effect of discharge) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: P.A. 87-582.)
Nearby Sections
15
§ 3-101
Short title§ 3-102
Subject matter§ 3-103
Definitions§ 3-104
Negotiable instrument§ 3-105
Issue of instrument§ 3-111
Place of payment§ 3-112
Interest§ 3-113
Date of instrument§ 3-115
Incomplete instrument