Section 58
Discharge From Liability Of Cheque Payable To The Bearer Or ordered Person
The Drawee shall be discharged from his/her liability
in the case of a bearer’s Cheque by Payment in due Course to the bearers thereof, notwithstanding any Indorsement on the back side of the
Cheque and in the case of a Cheque payable to order purports to be indorsed by or on behalf of the Payee, by Payment in due Course.