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 Section 3-605 of the Uniform Commercial Code provides: § 3-605. Impairment of Recourse or of Collateral. '(1) The holder discharges any party to the instrument to the extent that without such party's consent the holder '(a) without express reservation of rights releases or agrees not to sue any person against whom the party has to the knowledge of the holder a right of recourse or agrees to suspend the right to enforce against such person the instrument or collateral or otherwise discharges such person.' (Emphasis supplied.)


The code does not explicitly define the meaning of the term 'consent'. However, the Official ...