Oklahoma Statutes

Okla. Stat. tit. 12A, § 3-601 (2026)

Discharge and Effect of Discharge

✓ current as of July 2026

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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. Laws 1961, p. 118, § 3-601; Laws 1991, c. 117, § 89, eff. Jan. 1, 1992.

Notes of Decisions

Cited in 2 cases, 2015–2015 · leading case: Expert South Tulsa, LLC v. Cornerstone Creek Partners, LLC (In re Expert South Tulsa, LLC), 534 B.R. 400 (10th Cir. BAP 2015).

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Expert South Tulsa, LLC v. Cornerstone Creek Partners, LLC (In re Expert South Tulsa, LLC), 534 B.R. 400 (10th Cir. BAP 2015). “However, § 3-601 of the Uniform Commercial Code (Okla. Stat. tit. 12A, § 3-601) allows negotiable instruments to be discharged “by an act or agreement” with the obligor, and that discharge is effective unless the instrument is acquired by a "holder in due course.”

E.H. Hawes Revocable Trust v. United States Bankr. Court for the Dist. of Kansas - Kansas City (10th Cir. BAP 2015). “However, § 3-601 of the Uniform Commercial Code (Okla. Stat. tit. 12A, § 3-601) allows negotiable instruments to be discharged “by an act or agreement” with the obligor, and that discharge is effective unless the instrument is acquired by a “holder in due course.”

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