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Question
If the bill of exchange of two month's duration is accepted on 13th June its maturity date will be ____________.
If the bill of exchange of two month's duration is accepted on 13th June its maturity date will be ____________.
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Solution
The correct option is C 16th August
Legal Due Date = Date of Bill + Period of Bill + 3 grace Days
Therefore Legal Due Date = 13th june + 2 months + 3days
= 13th Aug + 3days
=16th Aug
Legal Due Date = Date of Bill + Period of Bill + 3 grace Days
Therefore Legal Due Date = 13th june + 2 months + 3days
= 13th Aug + 3days
=16th Aug
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