A Bill of Exchange is drawn on 1st April, 2012 payable after 3 months. The due date of the bill is

Question

Quizplus · Accepted Answer

The due date of a bill of exchange payable after a certain period of time is calculated by adding the specified period to the date on which it is drawn, and then adding 3 days of grace. Therefore, a bill drawn on 1st April 2012 payable after 3 months would be due on 1st July 2012, plus 3 days of grace, making it due on 4th July 2012.

A Bill of Exchange Is Drawn on 1st April, 2012