Discharge by cancellation or renunciation.

(b) Cancellation or striking out of an endorsement pursuant to subsection (a) does not affect the status and rights of a party derived from the endorsement. See Sec. 42a-3-603(b) and (c) for successor provisions to Sec. 42a-3-604, revised to 1991, re tender of payment. Cited. 211 C. 613. Cited. 41 CS 587. Subsec. (a): Court may use its common sense and commercial experience in determining that a preprinted form used in the ordinary course of business satisfies Subdiv. (ii) requirement of a “signed writing”. 73 CA 830.