Maturity of Bills Video Lecture | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year

tenure of death tenure is the period of
with the term of their how do we compute
the date of maturity of a bill bill off
the date now let us take an example let
us say the bill is dated first January
that means the bill was drawn on 1st
January and let us say that its maturity
is one month after date
one month after date so if it's first
January then that would mean first
January plus one month is first February
so this would be the date of expiry when
it is bill after date one more example
instead of one month after first
jamberry suppose it says 30 days after
date what is after death date of the
date of the bill so it is 30 days from
1st January now January has 31 days so
when we say 30 days after 1st January
the date would be 31st January it is
first generally plus 30 days equal to
31st
Chappel so there is a small difference
when the period is expressed in months
and it is expressed in days when it is
in days we have to count the exact
number of things 30 days from 1st
January 1st January plus 30 days would
give us 31st chanting
but if it's a month if it's two months
from 1st January it would be 1st January
to 1st February 1st February to first
much and the leaf would be 1st March so
this is bill after date if it is Bill
after sight what would it mean suppose
the bill is dated 1st January but it was
accepted only on 5th January accepted on
5th channel date of bill is first
generally but 5th January is the data of
acceptance in that case if we say that
the maturity is one month after sight
one month after side then the date would
be 5th January plus one month would be
5th February therefore depending on the
wordings we should be able to compute
arrive at the date of expiry offer them
however after the above computations we
need to add three days of grace
therefore if a bill if a bill dated
first January is for a period of one
month after date so the villa date is
first January date of bill and the
period is one month after date what is
the date of maturity date of maturity is
equal to first channel plus one month
plus three days of grace first Jan plus
one month plus three
of place first-gen plus one month is
first february plus first february plus
three days second third and fourth 4th
February would be the date of maturity
would be the date of maturity this is
how the date of maturity is arrived time
it is the date of expiry 1 month 30 days
90 days 3 months whatever plus 3 means
of grace however sometimes a bill may be
at site or a demand bill a bill at site
on a demanding is a bill which has to be
paid the moment it is presented in these
cases for such bills a billet site or a
demand bill there are no days of grace
there are no days of grace they have to
be paid the moment they are presented
for payment so to compute the tenure of
a bill the bill we need to add three
days of grace to the Dean of expiry this
date of expiry may be so many days or so
many months after date or after site
after death would mean after the date of
the bill after site between after
acceptance in the case of a bill of
exchange after presentment in the case
of a promissory note once the promissory
note is signed it is presented and shown
to the promisee the death would be
computed from the date at which the
promisee has seen the death if it is a
bill of the site