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Daily Archives: August 8, 2018

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How to calculate legal due date of a bill payable after date/after sight?

Loans and advancesBy Surendra NaikAugust 8, 2018Leave a comment

The calculation of legal due date of a bills of exchange is dependent on the type of bills of exchange viz. Demand bill or term bill. As the name suggests, a demand bill or sight bill is payable on demand (on presentation)/at sight.  Whereas, a term bill (also known as ‘Usance Bill’) is payable after…

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