Question

The term 'Days of Grace' in relation to a bill of

Q: Answer-The term 'Days of Grace' in relation to a bill of exchange refers to:

As per the Negotiable Instruments Act, 1881, three days of grace are added to the nominal due date period of the bill to arrive at the date of maturity for payment, unless the bill is payable on demand.

exchange refers to:

A The discount period offered by the bank.

B Three extra days added to the due date for payment.

C The period between the drawing and accepting of the bill.

D The period for noting and protesting a dishonored bill.

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The term 'Days of Grace' in relation to a bill of

Solution