alleryThe term of a Bill of Exchange usually does not exceed:
A90 days from date
B60 days from date
C30 days from date
D180 days from date
Answer & Solution
Correct answer: A. 90 days from date
1. Commercial practice fixes bill terms commonly at 30, 60 or 90 days.
2. ICAI text notes the usual maximum is 90 days.
3. Longer terms exist but are uncommon.
_Source: ICAI BoS Foundation Paper 1, Ch 6 "Bills of Exchange", §5 ¶1_
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