LawgistThe Negotiable Instruments Act
82Discharge from liability
The maker, acceptor or indorser respectively of a negotiable instrument is discharged from liability thereon--
(a) by cancellation.-- to a holder thereof who cancels such acceptor's or indorser's name with intent to discharge him, and to all parties claiming under such holder;
(b) by release.-- to a holder thereof who otherwise discharges such maker, acceptor or indorser, and to all parties deriving title under such holder after notice of such discharge;
(c) by payment.-- to all parties thereto, if the instrument is payable to bearer, or has been indorsed in blank, and such maker, acceptor or indorser makes payment in due course of the amount due thereon.
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OF DISCHARGE FROM LIABILITY ON NOTES, BILLS AND CHEQUES
- 82 Discharge from liability
- 83 Discharge by allowing drawee more than forty-eight hours to accept
- 84 When cheque not duly presented and drawer damaged thereby
- 85 Cheque payable to order
- 85A Drafts drawn by one branch of a bank on another payable to order
- 86 Parties not consenting discharged by qualified or limited acceptance
- 87 Effect of material alteration
- 88 Acceptor or indorser bound notwithstanding previous alteration
- 89 Payment of instrument on which alteration is not apparent
- 90 Extinguishment of rights of action on bill in acceptor's hands
