Iowa § 554.3604 Discharge by cancellation or renunciation

Iowa Statutes

§ 554.3604 — Discharge by cancellation or renunciation

Iowa § 554.3604

Title XIIICOMMERCE

Ch. 554UNIFORM COMMERCIAL CODE

This text of Iowa § 554.3604 (Discharge by cancellation or renunciation) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 554.3604 (2026).

Text

1.A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument 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 by agreeing not to sue or otherwise renouncing rights against the party by a signed record. The obligation of a party to pay a check is not discharged solely by destruction of the check in connection with a process in which information is extracted from the check and an image of the check is made and, subsequently, the information and image are transmitted for payment.

2.Cancellation or str

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1. A person entitled to enforce an instrument, with or without consideration, may
discharge the obligation of a party to pay the instrument 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 by agreeing not to sue or otherwise
renouncing rights against the party by a signed record. The obligation of a party to pay
a check is not discharged solely by destruction of the check in connection with a process
in which information is extracted from the check and an image of the check is made and,
subsequently, the information and image are transmitted for payment.
2. Cancellation or striking out of an endorsement pursuant to subsection 1 does not affect
the status and rights of a party derived from the endorsement.