To whom payment should be made
Full Text
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.
Plain English Summary
States that in order to discharge the maker or acceptor from liability, payment must be made directly to the legal holder of the instrument, subject to Section 82(c).
Key Legal Elements
- Subject to Section 82, clause (c)
- Payment must be made to the holder of the instrument
- Paying the holder is necessary to legally discharge the maker or acceptor from liability
Practical Note
Fundamental rule of discharge. Paying anyone other than the legal holder (e.g., paying a finder or unauthorized person) does not discharge the maker's or acceptor's liability on the instrument. They can still be sued by the true holder.
हिंदी पाठ
भुगतान किसे किया जाना चाहिए।—धारा 82 के खंड (ग) के उपबंधों के अधीन रहते हुए, वचन-पत्र, विनिमय-पत्र या चेक पर देय राशि का भुगतान, निर्माता या स्वीकर्ता को दायित्वमुक्त करने के लिए, लिखत के धारक (holder) को ही किया जाना चाहिए।