Ky. Rev. Stat. § 355.3-601

Current through Acts Received April 24, 2024

Section 355.3-601 - Discharge and effect of dishonor

(1) 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.

(2) 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.

KRS 355.3-601

Effective:1/1/1997
Repealed and reenacted 1996, Ky. Acts ch. 130, sec. 64, effective1/1/1997. -- Created 1958 Ky. Acts ch. 77, sec. 3-601, effective 7/1/1960.