United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 11, § 3-1602: Payment, 1993

Payment to the person entitled to enforce the instrument generally discharges the payer’s obligation, but not in listed exceptions.

discharge of obligationenforcementpaymentstolen instrument

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01

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“Payment to the person entitled to enforce the instrument generally discharges the payer’s obligation, but not in listed exceptions.”

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    Enacted 1993 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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Payment

Payment to the person entitled to enforce the instrument generally discharges the payer’s obligation, but not in listed exceptions.

Section 3-1602

04

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Source record from legislature.maine.gov · Enacted 1993 · Source version 1 Oct 2025

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Part 6

part 6 DISCHARGE AND PAYMENT

§ 3-1602PaymentProvision

Payment to the person entitled to enforce the instrument generally discharges the payer’s obligation, but not in listed exceptions.

(1). Subject to subsection (2), an instrument is paid to the extent payment is made: (a). By or on behalf of a party obliged to pay the instrument; and [PL 1993, c. 293, Pt. A, §2 (NEW).] (b). To a person entitled to enforce the instrument. [PL 1993, c. 293, Pt. A, §2 (NEW).] To the extent of the payment, the obligation of the party obliged to pay the instrument is discharged even though payment is made with knowledge of a claim to the instrument under section 3‑306 by another person. [PL 1993, c. 293, Pt. A, §2 (NEW).] (2). The obligation of a party to pay the instrument is not discharged under subsection (1) if: (a). A claim to the instrument under section 3‑1306 is enforceable against the party receiving payment and: (i) Payment is made with knowledge by the payor that payment is prohibited by injunction or similar process of a court of competent jurisdiction; or (ii) In the case of an instrument other than a cashier's check, teller's check or certified check, the party making payment accepted, from the person having a claim to the instrument, indemnity against loss resulting from refusal to pay the person entitled to enforce the instrument; or [PL 1993, c. 293, Pt. A, §2 (NEW).] (b). The person making payment knows that the instrument is a stolen instrument and pays a person that the person making payment knows is in wrongful possession of the instrument. [PL 1993, c. 293, Pt. A, §2 (NEW).] [PL 1993, c. 293, Pt. A, §2 (NEW).]
Section 3-1602Verify source

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  • 1 Oct 2025 · currentEnglish

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