Discharge and effect of discharge.
(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.
[ 1993 c 229 s 71; 1965 ex.s. c 157 s 3-601. Cf. former RCW sections: RCW 62.01.119 through 62.01.121; 1955 c 35 ss 62.01.119 through 62.01.121; prior: 1899 c 149 ss 119 through 121; RRS ss 3509 through 3511.]