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Can you summarize NHRS 382-A:3-604?
UNIFORM COMMERCIAL CODE > Discharge by Cancellation or Renunciation.
Short Summary
This legal document, found in the New Hampshire Revised Statutes under the Uniform Commercial Code (Chapter 382-A), governs the discharge of obligations related to payment instruments. It states that a person entitled to enforce an instrument can discharge the obligation of a party to pay the instrument through intentional voluntary acts, such as surrendering, destroying, mutilating, or canceling the instrument, or by renouncing rights against the party through a signed record. However, the destruction of a check through a process that extracts information and creates an image of the check does not discharge the obligation to pay. The cancellation or striking out of an endorsement does not affect the status and rights derived from the endorsement. This document does not specify any exemptions or penalties.
Whom does it apply to?
Persons entitled to enforce an instrument
What does it govern?
Discharge by Cancellation or Renunciation
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire