Michigan Compiled Laws
174-1962-3-6 - Part 6 Discharge and Payment (440.3601...440.3606)
Section 440.3601 - Discharge; Effect Against Holder in Due Course.

Sec. 3601.
(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.
History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 440 - Uniform Commercial Code

Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)

Article 3 - Negotiable Instruments (440.3101...440.3805)

174-1962-3-6 - Part 6 Discharge and Payment (440.3601...440.3606)

Section 440.3601 - Discharge; Effect Against Holder in Due Course.

Section 440.3602 - Discharge; Payment; "Signed" Defined.

Section 440.3603 - Tender of Payment; Effect; Refusal of Tender as Discharge; Interest; Obligor Ready and Able to Pay on Due Date.

Section 440.3604 - Discharge by Intentional Voluntary Act; Canceling or Striking Out Endorsement; "Signed" Defined.

Section 440.3605 - Secondary Obligor; Rights and Duties; Agreement to Modification or to Extend Time When Payments Are Due; Obligation Secured by Interest in Collateral; Discharge; Impairing Value of Interest in Collateral; Knowledge of Accommodation...

Section 440.3606 - Repealed. 1993, Act 130, Eff. Sept. 30, 1993.