Bills of exchange after sight, in which the date of maturity is counted from the date of acceptance of the bill.
A
counted from the date of drawing the bill.
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B
counted from the date of acceptance of the bill.
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C
counted from one month, after the date of drawing the bill.
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D
counted from one month, after the date of acceptance of the bill.
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Solution
The correct option is B counted from the date of acceptance of the bill. Maturity date for 'After sight bill' = Date of acceptance + Period +3 grace days
So, date of maturity of after sight bill is counted from the date of acceptance of the bill.