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Form a Business

Discharge; effect against holder in due course.

MCL 440.3601
in effect
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440.3601. Discharge; effect against holder in due course. Sec. 3601. (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. 1962, Act 174, Eff. Jan. 1, 1964; Am. 1993, Act 130, Eff. Sept. 30, 1993
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-440-3601Fetched: 10/20/2026

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