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The Negotiable Instruments Act, 1881

( ACT NO. XXVI OF 1881 )

Chapter II

OF NOTES, BILLS AND CHEQUES

“Maturity” Days of grace
22. The maturity of a promissory note or bill of exchange is the date at which it falls due.
 
 
 
 
Every promissory note or bill of exchange which is not expressed to be payable on demand, at sight or on presentment is at maturity on the third day after the day on which it is expressed to be payable.

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