CopyCited 9 times | Published | Florida 1st District Court of Appeal | 2000 WL 1233602
...Shannon had no liability. Article 3 of the Uniform Commercial Code, codified in Florida in chapter 673, Florida Statutes, governs negotiable instruments and provides for the means by which an instrument, such as the note here, may be discharged. Under section 673.6041(1)(a), Florida Statutes (1997), an instrument may be discharged "by an intentional voluntary act" including, surrender of the instrument; destruction, mutilation or cancellation of the instrument; cancellation or striking out of the...
...instrument indicating a discharge. Further, an instrument may be discharged by the person entitled to enforce an instrument agreeing not to sue or otherwise renouncing rights against the party obligated to pay the instrument by a signed writing. See § 673.6041(1)(b), Fla....
CopyPublished | Florida 2nd District Court of Appeal | 2010 Fla. App. LEXIS 17636, 2010 WL 4630842
...ity to collect on the note. We agree. Cancellation or renunciation of a promissory note and release of security is ineffective if it is unintentional or procured by mistake. Gover v. Home & City Sav. Bank,
574 So.2d 306 (Fla. 1st DCA 1991); see also §
673.6041, Fla....
CopyPublished | Florida 3rd District Court of Appeal | 2008 Fla. App. LEXIS 7531, 2008 WL 2185225
...A non-jury trial was conducted on the Supplemental Proceeding, at which several witnesses testified and evidence was introduced. The primary issue for the trial court’s determination was whether SS Funding intended to discharge Raltron’s obligations under the 2002 Notes when it surrendered the 2002 Notes to Raltron. § 673.6041(l)(a), Fla....
...ncellation of the [2002 Notes] was made unintentionally, under mistake, or without authority,” and therefore SS Funding does not have valid lien on any of Raltron’s assets. SS Funding’s appeal followed. SS Funding acknowledges that pursuant to section 673.6041(l)(a), “[a] person enti-tied to enforce an instrument ......
...004 Note was sent to Lin, via DHL, referencing a specific airway bill. The Assignee also introduced a copy of the referenced airway bill, which indicates that documents were sent from Blass’ office in Miami, Florida, to Lin’s office in Taiwan. . Section 673.6041 provides in part as follows: (1) A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument: (a) By an intentional voluntary act, such as: 1....
CopyPublished | Florida 5th District Court of Appeal | 2011 Fla. App. LEXIS 4666, 2011 WL 1195873
...paid. [4] The ruling by the lower court elevates the gift of forgiveness of an obligation to a superior status over the rights of legitimate creditors of the decedent, contrary to the priorities established in the Probate Code. Appellee asserts that section 673.6041(1)(b), which governs negotiable instruments, permits the decedent to discharge his son's obligation on the note. Section 673.6041(1)(b) provides that a person entitled to enforce an instrument may discharge the obligation by "agreeing not to sue or otherwise renouncing rights against the party by a signed writing." Appellee argues that the decedent's will was a signed writing that met the requirements *288 of the statute....
...l to probate. If William C. Wallace and his wife had placed a provision in the note which cancelled the debt upon their deaths, then the forgiveness would have been a valid cancellation of the note. This comports with Whitley and the requirements of section 673.6041(1)(b) that a debt may be cancelled by a signed writing subject to other prohibitions....
