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If the day of maturity is a public holiday the instrument falls due on the:
APresenting day
BProtesting day
CPreceding day
DProceeding day
Answer & Solution
Correct answer: C. Preceding day
1. The holiday cannot itself be the day of payment.
2. The Act does not push the date forward.
3. It falls due on the next preceding business day.
_Source: The Negotiable Instruments Act, 1881 (India Code)_
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