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<h1>Payment to the holder is required to discharge the maker or acceptor of a negotiable instrument, subject to statutory exceptions.</h1> Section 78 provides that, subject to the exception in section 82 clause (c), payment to the holder of a promissory note, bill of exchange or cheque is required to discharge the maker or acceptor; payment to others will not, except as statutorily permitted, extinguish the payer's liability.