Tennessee Statutes
§ 47-3-604 — Discharge by cancellation or renunciation
Tennessee·Title 47
(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 writing.
(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.
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Related
Cumberland Bank v. G & S IMPLEMENT CO.
211 S.W.3d 223 (Court of Appeals of Tennessee, 2006)
Johnson v. Midland Bank and Trust Co.
715 S.W.2d 607 (Court of Appeals of Tennessee, 1986)
Synovus Bank v. David A. Paczko
(Court of Appeals of Tennessee, 2015)
Drayton D. Berkley v. Household Financial Center and Beneficial Tennessee, Inc.
(Court of Appeals of Tennessee, 2009)
Legislative History
Acts 1995, ch. 397, § 2.
Nearby Sections
15
§ 47-1-101
Short title§ 47-1-102
Scope of chapter§ 47-1-104
Construction against implied repeal§ 47-1-105
Severability§ 47-1-106
Use of singular and plural - Gender§ 47-1-201
General definitions§ 47-1-202
Notice - Knowledge§ 47-1-204
Value§ 47-1-205
Reasonable time - Seasonableness§ 47-1-206
Presumptions§ 47-1-302
Variation by agreement