Legal World

Section 22 NI Act — “Maturity”

The Negotiable Instruments Act, 1881 · Official PDF page 11

Open in NyayaOfficial PDF, page 11

22. “Maturity”. —The maturity of a promissory note or bill of exchange is the date at which it falls due. Days of grace. —Every promissory note or bill of exchange which is not expressed to be payable on demand, at sight or on presentment is at maturity on the third day after the day on which it is expressed to be payable.

Text extracted from the official PDF (India Code source copy; consolidation date not certified). Line breaks and footnote marks may differ; the PDF is the authority.

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