Key in the bill number

Exercise and reference answers

Questions

1. Answer

   3

   Question

   How many days of grace does an instrument payable otherwise than on demand get?

2. Answer

   6

   Question

   A bill is drawn for three months on 1 March. In which month does its term expire?

3. Answer

   12

   Question

   Under which section of the Negotiable Instruments Act is an instrument that is not inland treated as foreign?

Instructions

Work out each answer and key it in on the pad.

Explanation