Discharge and effect of discharge
Known as the Uniform Commercial Code
The act spans §§ 36–36 (519 sections).
Applied in 2 court decisions — leading case Williams v. Sandman (1999)
Most recently applied in Williams v. Sandman (August 1999)
1962 Code SECTION 10.3-601; 1966 (54) 2716; 2008 Act No. 204, SECTION 2, eff July 1, 2008.
(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.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.