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Question
___________ days of grace are allowed in case of time bills for calculation date of maturity.
___________ days of grace are allowed in case of time bills for calculation date of maturity.
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Solution
The correct option is C Three
Maturity means the date on which a bill of exchange falls due for payment. Every bill of exchange payable at a specified period after date is entitled to have a grace period of 3 days.
Maturity means the date on which a bill of exchange falls due for payment. Every bill of exchange payable at a specified period after date is entitled to have a grace period of 3 days.
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