Okla. Stat. tit. 12A, § 12A-3-604
This is the official text of Okla. Stat. tit. 12A, § 12A-3-604, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Discharge by Cancellation or Renunciation
Official statutory text
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 326
DISCHARGE BY CANCELLATION OR RENUNCIATION
(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 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.
(b) Cancellation or striking out of an indorsement pursuant to
subsection (a) of this section does not affect the status and rights
of a party derived from the indorsement.
DISCHARGE BY CANCELLATION OR RENUNCIATION
(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 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.
(b) Cancellation or striking out of an indorsement pursuant to
subsection (a) of this section does not affect the status and rights
of a party derived from the indorsement.
Status: in_force · Read it on the official government site
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