law: Negotiable Instruments Act, 1881 
  40. Discharge of endorser's liability 
  Where the holder of a negotiable instrument, without the consent
  
  of the endorser, destroys or impairs the endorser's remedy against a prior party,
  
  the endorser is discharged from liability to the holder to the same extent as
  
  if the instrument had been paid at maturity.
  Illustration 
  A is the holder of a bill of exchange made payable to the order
  
  of B, which contains the following endorsements in blank- 
  First endorsement, "B".
  Second endorsement, "Peter Williams".
  Third endorsement, "Wright & Co.".
  Fourth endorsement "John Rozario".
  This bill A puts in suit against John Rozario and strikes out, without
  
  John Rozario's consent, the endorsements by Peter Williams and Wright & Co.
  
  A is not entitled to recover anything from John Rozario.