Discharge and effect of discharge
Known as the Uniform Commercial Code
The act spans §§ 57A-1-101 to 57A-9-809 (574 sections).
Applied in 1 court decision — leading case First Dakota National Bank v. Maxon (1995)
Most recently applied in First Dakota National Bank v. Maxon (June 1995)
Source: SL 1994, ch 367, § 3-601.
(a) 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.
(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 Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.