Section 10:3-601 - Discharge and effect of discharge(a) 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.(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.Acts 1992, No. 1133, §3, eff. 7/1/1993; Acts 1993, No. 948, §10, eff. 1/1/1994.