2006 Minnesota Code
Chapters 324 - 338 Trade Regulations, Consumer Protection
Chapter 336 Uniform Commercial Code
Section 336.3-604 DISCHARGE BY CANCELLATION OR RENUNCIATION.

336.3-604 MS 1990 [Repealed, 1992 c 565 s 114]
336.3-604 DISCHARGE BY CANCELLATION OR RENUNCIATION.
(a) A person entitled to enforce an instrument, with or without consideration, may discharge
the obligation of a party to pay the instrument (i) 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 (ii) by agreeing not to sue or otherwise renouncing rights against the party
by a signed record.
(b) Cancellation or striking out of an endorsement pursuant to subsection (a) does not affect
the status and rights of a party derived from the endorsement.
(c) In this section, "signed," with respect to a record that is not a writing, includes the
attachment to or logical association with the record of an electronic symbol, sound, or process
with the present intent to adopt or accept the record.
History: 1992 c 565 s 69; 2003 c 81 art 1 s 12