Under the Negotiable Instruments Act, 1881, if the month of maturity has no corresponding day:
Under s.23 NI Act, if the month in which the period would terminate has no day corresponding to the start date, the period is held to terminate on the last day of that month.
Choose your answer
Under the Negotiable Instruments Act, 1881, if the month of maturity has no corresponding day:
Answer and explanation
Correct answer C
Under s.23 NI Act, if the month in which the period would terminate has no day corresponding to the start date, the period is held to terminate on the last day of that month.
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