There is a newer version
of
the New York Laws
2019 New York Laws
UCC - Uniform Commercial Code
Article 3 - Commercial Paper
Part 6 - Discharge
3-605 - Cancellation and Renunciation.
Universal Citation: NY UCC § 3-605 (2019)
Section 3--605. Cancellation and Renunciation.(1) The holder of an instrument may even without consideration discharge any party
(a) in any manner apparent on the face of the instrument or the indorsement, as by intentionally cancelling the instrument or the party's signature by destruction or mutilation, or by striking out the party's signature; or
(b) by renouncing his rights by a writing signed and delivered or by surrender of the instrument to the party to be discharged.
(2) Neither cancellation nor renunciation without surrender of the instrument affects the title thereto.
Disclaimer: These codes may not be the most recent version. New York 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.
