Utah Statutes
§ 70A-3-604 — Discharge by cancellation or renunciation.
Utah·Title 70A Uniform Commercial Code·Ch. 70A-3 Uniform Commercial Code - Negotiable Instruments·Part 70A-3-6 Discharge and Payment
(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 writing.
(2)Cancellation or striking out of an indorsement pursuant to Subsection (1) does not affect the status and rights of a party derived from the indorsement.
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Related
American Express Bank v. Tanne
2017 UT App 222 (Court of Appeals of Utah, 2017)
Legislative History
Repealed and Re-enacted by Chapter 237, 1993 General Session
Nearby Sections
15
§ 70A-10-101
Effective date.§ 70A-10-102
Specific repealer -- Provision for transition.§ 70A-10-103
General repealer.§ 70A-10-104
Laws not repealed.§ 70A-1a-101
Title.§ 70A-1a-102
Scope of chapter.§ 70A-1a-104
Construction against implied repeal.§ 70A-1a-105
Severability.§ 70A-1a-106
Use of singular and plural -- Gender.§ 70A-1a-107
Section captions.§ 70A-1a-201
General definitions.§ 70A-1a-202
Notice -- Knowledge.§ 70A-1a-203
Lease distinguished from security interest.