Section 25 of NIA : Section 25: When Day Of Maturity Is A Holiday

NIA

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Explanation using Example

Imagine John issues a promissory note to Sarah that is due on July 4th. However, July 4th happens to be a public holiday. According to Section 25 of The Negotiable Instruments Act, 1881, the note will now be due on the last business day before July 4th. If July 3rd is a business day, then Sarah should expect the payment by that day instead of the public holiday.

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