2023 Florida Statutes
< Back to Statute SearchTitle XXXIX COMMERCIAL RELATIONS
Chapter 673
UNIFORM COMMERCIAL CODE: NEGOTIABLE INSTRUMENTS
SECTION 6041Discharge by cancellation or renunciation.
673.6041 Discharge by cancellation or renunciation.—
(1) A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument:
(a) By an intentional voluntary act, such as:
1. Surrender of the instrument to the party;
2. Destruction, mutilation, or cancellation of the instrument;
3. Cancellation or striking out of the party’s signature; or
4. Addition of words to the instrument indicating discharge; or
(b) By agreeing not to sue or otherwise renouncing rights against the party by a signed writing.
(2) Cancellation 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.