Alaska Statutes: AS 45.03.601. Discharge and Effect of Discharge.

Alaska Statutes. Title 45. Trade and Commerce Chapter 3. Negotiable Instruments Section 601. Discharge and Effect of Discharge.

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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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