Section 4-3-601 - Discharge and effect of discharge(a) 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.(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.L. 94: Entire article R&RE, p. 876, § 1, effective 1/1/1995.This section is similar to former §§ 4-3-601 and 4-3-602 as they existed prior to 1994.