27-1-433. Cancellation of written instrument. (1) A written instrument in respect to which there is a reasonable apprehension that if left outstanding it may cause serious injury to a person against whom it is void or voidable may, upon that person's application, be adjudged and ordered to be delivered up or canceled.
(2) An instrument the invalidity of which is apparent upon its face or upon the face of another instrument that is necessary to the use of the former instrument in evidence is not to be considered capable of causing injury within the provisions of subsection (1).
(3) When an instrument is evidence of different rights or obligations, it may be canceled in part and allowed to stand for the residue.