Ariz. Rev. Stat. § 47-3601 – Discharge and effect of discharge | Midpage
§ 47-3601
Ariz. Rev. Stat. § 47-3601
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 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.