- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 3. Negotiable Instruments
- Section 601. Discharge and Effect of Discharge.
previous: Section 506
. - 45.03.511. Time For Acceptance or Payment; Dishonor; Protest; Waiver or Excuse. [Repealed, Sec. 127 Ch 35 SLA 1993].
next: Section 602
AS 45.03.601. 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 that 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.
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