Skip to main content
Back To Top Top Back To Top
Home Button Home Button Home Button
The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 1303.69 | Discharge by cancellation or renunciation - UCC 3-604.

Ohio Revised Code
/
Title 13 Commercial Transactions
/
Chapter 1303 Commercial Paper
 
You are viewing a past version of this section that is no longer in effect View Current Version
Effective:
August 19, 1994
Legislation:
Senate Bill 147 - 120th General Assembly
PDF:
Download Authenticated PDF
 

(A) A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument in either of the following ways:

(1) By surrender of the instrument to the party, destruction, mutilation, or cancellation of the instrument, cancellation or striking out of the party's signature, the addition of words to the instrument indicating discharge, or any other intentional voluntary act;

(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 division (A) does not affect the status and rights of a party derived from the indorsement.

Available Versions of this Section