SECTION 673.6041. Discharge by cancellation or renunciation.

Latest version.

1(1) 2A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument:
24(a) 25By an intentional voluntary act, such as:
321. 33Surrender of the instrument to the party;
402. 41Destruction, mutilation, or cancellation of the instrument;
483. 49Cancellation or striking out of the party’s signature; or
584. 59Addition of words to the instrument indicating discharge; or
68(b) 69By agreeing not to sue or otherwise renouncing rights against the party by a signed writing.
85(2) 86Cancellation or striking out of an indorsement pursuant to subsection (1) does not affect the status and rights of a party derived from the indorsement.

History.-s. 2, ch. 92-82.

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