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Discharge and effect of dishonor

KRS 355.3-601
in effect
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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. Effective: January 1, 1997 History: Repealed and reenacted 1996 Ky. Acts ch. 130, sec. 64, effective January 1, 1997. -- Created 1958 Ky. Acts ch. 77, sec. 3-601, effective July 1, 1960.
Source: Kentucky Legislative Research Commission (legislature.ky.gov)URL: https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33502Fetched: 10/20/2026

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