82. Discharge 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 cours e of the amount due thereon.