Question

Question 1.
Calculate the due dates of the bills in the following cases:

Answer 1

Hope you will understand it.

Explanation:

Before starting solving the due dates i want to tell you the few things about the due dates rules.

• According to Negotiable instrument act a grace of three days is to be given after the due date. For example is due date comes to 3/March/2020 we need to add 3 days as a grace period. So the final date comes to 6/March/2020
• If the maturity date is on national holiday, a preceding date is to be the maturity date. For example if we calculate the due date and t comes to 15/August/2020 we should accept the due date as 4/August/2020 as 15 August is the national holiday
• If the due date is on some emergency holiday or unexpected holiday then the next date is accepted as the maturity date. For example the due date is 3/march/2020 and due to some unforeseen condition the government declared it holiday then the maturity date will be the 4/march/2020

Now start with the problems;

(i) 1st December 2017 - 60 days

When the number of days are given we ignore the date on which the bill is prepared so here we will ignore the 1st December adding 60 days from 2nd   December 30 days of December as December as 31 days  + 30 days of January = 60 Days  and add 3 days as the grace days i.e 31 January , 1st Feb+ 2nd Feb.  

So the due date is 2nd February 2018.

(ii) 30th April 2018 - 2 month

When simply month are given we simply add month and add grace days to get the maturity date. From 30th April 2 month is 30th June and add 3 days as the grace days i.e 3rd July 2018.

So the due date is 3rd July 2018.

(iii)28th January 2018 - 1 Month

From 28th January one month comes to 28th Feb and add 3 days as the grace days the date come to 3rd March.

So the due date is 3rd March.

(iv) 23rd November 2017- 2 months

From 23rd November 2 months come to 23rd January 2018 add 3 days as the grace days the date comes to 26 January 2018 as we know that it is national holiday the due date will be 25th January 2018.

So the final due date will be 25th January 2018.

(v) 29th May 2017 - 4 months

From 29th may 4 month comes to 29th September add 3 grace days the date comes to 2nd October 2017 as it is national holiday the due date will be the 1st October 2017.

So the final due date will be 1st October 2017.