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2010 Florida Statutes
SECTION 6041
Discharge by cancellation or renunciation.
Discharge 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.