(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.
Source: L. 94: Entire article R&RE, p. 877, § 1, effective January 1, 1995. L. 2023: (a) amended, (SB 23-090), ch. 136, p. 531, § 23, effective August 7.
Editor's note: This section is similar to former § 4-3-605 as it existed prior to 1994.
Notes of Decisions
Cited in
3
cases, 1989–2011 · leading case:
Glover v. Innis, 252 P.3d 1204 (Colo. Ct. App. 2011).
Glover v. Innis, 252 P.3d 1204 (Colo. Ct. App. 2011).
· cites it 13× “Renunciation Defendants contend that the trial court erred by characterizing their waiver defense as a renunciation defense under section 4-3-604, C.R.S.2010, and then rejecting it.”
Hohn v. Morrison, 870 P.2d 513 (Colo. Ct. App. 1993).
· cites it 3× “Section 4-3-604, C.R.S. (1992 Repl.Vol. 2) provides: (1) Any party making tender of full payment to a holder [of a note] when or after it is due is discharged to the extent of all subsequent liability for interest, costs, and attorney’s fees.”
Farner v. Cole, 778 P.2d 688 (Colo. 1989).
· cites it 2× “(1) The extent of the discharge of any party from liability on an instrument is governed by the sections on: (a) Payment or satisfaction (section 4-3 — 603); or (b) Tender of payment (section 4-3-604); or (c) Cancellation or renunciation (section 4-3-605); or (d) Impairment of…”
— Colo. Rev. Stat. § 4-3-604(a) — 1 case
Glover v. Innis, 252 P.3d 1204 (Colo. Ct. App. 2011).
“Renunciation Defendants contend that the trial court erred by characterizing their waiver defense as a renunciation defense under section 4-3-604, C.R.S.2010, and then rejecting it.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.