Illinois General Assembly - Illinois Compiled Statutes

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

810 ILCS 5/3-604

(810 ILCS 5/3-604) (from Ch. 26, par. 3-604)

Sec. 3-604.

Discharge by cancellation or renunciation.

(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 writing.

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

(Source: P.A. 87-582; 87-1135.)