Louisiana Statutes
§ 10:3-601
Louisiana·Title 10 Commercial Laws
§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.
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Nearby Sections
15
§ 10:3-101
§ 10:3-101§ 10:3-102
Subject matter§ 10:3-103
Definitions§ 10:3-104
Negotiable instrument§ 10:3-105
Issue of instrument§ 10:3-106
Unconditional promise or order§ 10:3-107
Instrument payable in foreign money§ 10:3-108
Payable on demand or at definite time§ 10:3-109
Payable to bearer or to order§ 10:3-111
Place of payment§ 10:3-112
Interest§ 10:3-113
Date of instrument§ 10:3-114
Contradictory terms of instrument§ 10:3-115
Incomplete instrument