N.Y. Uniform Commercial Code Law § 3-605: Cancellation and Renunciation

Section 3--605. Cancellation and Renunciation.

(1) The holder of an instrument may even without consideration

discharge any party

(a) in any manner apparent on the face of the instrument or the

indorsement, as by intentionally cancelling the instrument or

the party's signature by destruction or mutilation, or by

striking out the party's signature; or

(b) by renouncing his rights by a writing signed and delivered or

by surrender of the instrument to the party to be discharged.

(2) Neither cancellation nor renunciation without surrender of the

instrument affects the title thereto.

(3) 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.