Section 22 of NIA : Section 22: ''Maturity''

NIA

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Explanation using Example

Imagine John issues a promissory note to Mary on the 1st of January, stating that the note is due on the 15th of January. According to Section 22 of The Negotiable Instruments Act, 1881, the actual maturity date of this note would be the 18th of January, because there are three days of grace added to the date on which the note is expressed to be payable.

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Explanation using Example

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