Under the Negotiable Instruments Act, 1881, the maturity of a promissory note or bill of exchange is:
Section 22 of the Negotiable Instruments Act, 1881 defines maturity as the date at which the promissory note or bill of exchange falls due, not the date it is drawn,…
Choose your answer
Under the Negotiable Instruments Act, 1881, the maturity of a promissory note or bill of exchange is:
Answer and explanation
Correct answer B
Section 22 of the Negotiable Instruments Act, 1881 defines maturity as the date at which the promissory note or bill of exchange falls due, not the date it is drawn, accepted, or indorsed.
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