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of <h1>Section 82: Discharge from Liability on Negotiable Instruments via Cancellation, Release, or Payment Explained</h1> Section 82 of the Negotiable Instruments Act, 1881, outlines the conditions under which the maker, acceptor, or indorser of a negotiable instrument, such as notes, bills, or cheques, is discharged from liability. Discharge occurs through cancellation when a holder intentionally cancels the name of an acceptor or indorser. It also occurs by release when a holder discharges the maker, acceptor, or indorser, with notice to subsequent titleholders. Lastly, discharge from liability happens through payment when the instrument is payable to bearer or indorsed in blank, and the obligated party pays the due amount in due course.
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