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Days of grace put a bill at maturity on which day after the due day?
AThe ninth
BThe third
CThe eighth
DThe fourth
Answer & Solution
Correct answer: B. The third
1. Grace applies to instruments not payable on demand.
2. It also excludes those at sight or on presentment.
3. Maturity falls on the third day after.
_Source: The Negotiable Instruments Act, 1881 (India Code)_
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