New Click here to enroll in UIICL SO Finance and Investment Course

    Register

    Question

    _________________of a promissory note or bill of exchange is the date at which it falls due

    A Making Correct Answer Incorrect Answer
    B Maturity Correct Answer Incorrect Answer
    C Presentation Correct Answer Incorrect Answer
    D Acceptance Correct Answer Incorrect Answer

    Solution

    Negotiable Instruments Act- 22. “Maturity”—The maturity of a promissory note or bill of exchange is the date at which it falls due. Days of grace—Every promissory note or bill of exchange which is not expressed to be payable on demand, at sight or on presentment is at maturity on the third day after the day on which it is expressed to be payable.

    Practice Next