Section 78 NI Act — To whom payment should be made

The Negotiable Instruments Act, 1881 · Official PDF page 19

78. To whom payment should be made. —Subject to the provisions of section 82, clause (c), payment of the amount due on a promissory note, bill of exchange or cheque must, in order to discharge the maker or acceptor, be made to the holder of the instrument.

Text extracted from the official PDF (India Code source copy; consolidation date not certified). Line breaks and footnote marks may differ; the PDF is the authority.

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