Question

Meaning of due date in bills of exchange

Answer 1

Answer:

due date. Date on which a bill of exchange (check, draft, letter of credit, etc.) is payable. No grace period may be allowed on a sight draft (due on presentation) but is allowed for a term draft (due on or before a certain date). Also called law date, law day.

Answer 2

due date. Date on which a bill of exchange (check, draft, letter of credit, etc.) is payable. No grace period may be allowed on a sight draft (due on presentation) but is allowed for a term draft (due on or before a certain date). Also called law date, law day.
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