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      Question

      Under Section 63, the holder must allow the drawee of a

      bill presented for acceptance how much time to consider whether he will accept it?
      A Twenty-four hours Correct Answer Incorrect Answer
      B Thirty-six hours Correct Answer Incorrect Answer
      C Seventy-two hours Correct Answer Incorrect Answer
      D One week Correct Answer Incorrect Answer
      E Forty-eight hours, exclusive of public holidays Correct Answer Incorrect Answer

      Solution

      Section 63 provides that the holder must, if so required by the drawee of a bill of exchange presented for acceptance, allow the drawee forty-eight hours (exclusive of public holidays) to consider whether he will accept it. The period was raised from twenty-four to forty-eight hours by the 1921 amendment. Correspondingly, under Section 83, allowing more than forty-eight hours discharges previous parties who do not consent.

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