Okla. Stat. tit. 12A, § 12A-3-604: Discharge by Cancellation or Renunciation

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 record. 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.

(b) Cancellation or striking out of an indorsement pursuant to

subsection (a) of this section does not affect the status and rights

of a party derived from the indorsement.