673.6041  Discharge by cancellation or renunciation.--

(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.  Surrender of the instrument to the party;

2.  Destruction, mutilation, or cancellation of the instrument;

3.  Cancellation or striking out of the party's signature; or

4.  Addition of words to the instrument indicating discharge; or

(b)  By agreeing not to sue or otherwise renouncing rights against the party by a signed writing.

(2)  Cancellation or striking out of an indorsement pursuant to subsection (1) does not affect the status and rights of a party derived from the indorsement.