Oregon Statutes - Chapter 73 - Negotiable Instruments - Section 73.0601 - 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. [1993 c.545 §67]

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Last modified: August 7, 2008