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Question No 02 Chapter No 15 - USHA Publication 11 Class

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Question No 02 Chapter No 15

Determination of Due Date

2. Find out the due dates of the following:

(i) A bill payable 3 m/d is id drawn on November 30, 2018, and accepted on 6th December 2018
(ii) A bill payable 2 m/s is drawn on 25th December 2018 and accepted on 29th December 2018.
(iii) A promissory note payable 30 d/d drawn on 20th December 2018.
(iv) A bill payable 45 d/s is drawn on 23rd December 2018 and accepted on 29th December 2018

The solution of Question No 02 Chapter No 15: -

Date of Bill	Tenure	Calculation	Due Date
(i) 30th November 2018	3 months	3 months from November 30, 2018, would be Feb 1, 2019, + 3 days of grace	3rd March 2019
		Note: days counted from the date of drawing the bill

(ii) 29th December 2018	2 Months	2 Months from December 29, 2018, would be Feb 28, 2019, + 3 days of grace	1st March 2019
		Note: days counted from the date of acceptance of the bill

(iii) 20th December 2018	60 days	11 December + 31 January + 18 February + 3 days of grace	21st February 2019
		Note: days counted from the date of acceptance of the bill

(iv) 29th December 2018	45 days	2 December + 31 January + 12 February + 3 days of grace	15th February 2019
		Note: days counted from the date of acceptance of the bill