26(2)Payment to the sheriff by the party liable on any such cheque, bill of exchange, promissory note, bond, specialty or other security, with or without suit, or the recovery and levying execution against the party so liable, shall discharge him to the extent of such payment, or of such recovery and levy in execution, as the case may be, from his liability on any such cheque, bill of exchange, promissory note, bond, specialty or other security, and the sheriff shall, subject to the provisions of the
Creditors’ Relief Act, pay over to the party who sued out such writ of execution the money so recovered or such part thereof as shall be sufficient to discharge the amount by the writ directed to be levied, and if after satisfaction of the amount so to be levied, together with the sheriff’s poundage and expenses, a surplus remains in the hands of such sheriff the same shall be paid to the party against whom the writ was so issued.