Section 70A-3-601 - Discharge and effect of discharge(1) 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.(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.Repealed and Re-enacted by Chapter 237, 1993 General Session