Arizona § 47-3604 Discharge by cancellation or renunciation

Arizona Statutes

§ 47-3604 — Discharge by cancellation or renunciation

Arizona § 47-3604

Title 47Arizona Revised Statutes

Ch. 3NEGOTIABLE INSTRUMENTS

Art. 6Discharge and Payment

This text of Arizona § 47-3604 (Discharge by cancellation or renunciation) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 47-3604 (2026).

Text

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 indorsement pursuant to subsection A does not affect the status and rights of a party derived from the indorsement.

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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 indorsement pursuant to subsection A does not affect the status and rights of a party derived from the indorsement.