Section 28-3-601 - 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.[28-3-601, added 1993, ch. 288, sec. 2, p. 1050.]