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of <h1>Payment on Promissory Note or Cheque Must Be Made to Holder for Discharge per Section 78, Negotiable Instruments Act.</h1> Payment on a promissory note, bill of exchange, or cheque must be made to the holder of the instrument to discharge the maker or acceptor, as per Section 78 of the Negotiable Instruments Act, 1881. This requirement is subject to the provisions of Section 82, clause (c). The statute outlines the legal obligation for payment to ensure the proper discharge of financial instruments under Indian law.
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