Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A cheque is discharged if:
(a) the cheque is paid in due course by the drawee institution;
(b) subject to section 80, the holder, at any time, absolutely and unconditionally renounces the holder's rights against the drawer or all persons liable on the cheque; or
(c) subject to subsection 81(1), the holder intentionally cancels the cheque or the drawer's signature and the cancellation is apparent from the cheque.
(2) A cheque is also discharged if the cheque is fraudulently and materially altered by the holder.
(3) Nothing in this section affects the discharge of a cheque
otherwise than in accordance with this section.