The Holder of an Instrument Can Discharge Any Party to the Instrument

question 56

True/False

The holder of an instrument can discharge any party to the instrument by cancellation.

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Definitions:

Faith and Trust

The belief in the reliability, truth, or strength of someone or something without requiring proof.

No Liability

A legal status indicating that an individual or entity is not responsible for certain actions or debts.

Domestic Corporation

A corporation created by or organized under the laws of the state where it is operating.

Principal Office

The main executive office of a business where key administrative and leadership activities are conducted.