There is a newer version
of
this Section
2020 Alaska Statutes
Title 45. Trade and Commerce
Chapter 03. Negotiable Instruments
Article 6. Discharge.
Sec. 45.03.604. Discharge by cancellation or renunciation.
Universal Citation: AK Stat § 45.03.604 (2020)
(a) A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument
(1) by an intentional voluntary act, such as surrender of the instrument to the party, destruction, mutilation, or cancellation of the instrument, cancellation or striking out of the party's signature, or the addition of words to the instrument indicating discharge; or
(2) by agreeing not to sue or otherwise renouncing rights against the party by a signed writing.
(b) Cancellation or striking out of an endorsement under (a) of this section does not affect the status and rights of a party derived from the endorsement.
Disclaimer: These codes may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
