Examveda
Examveda

As per the Negotiable Instruments Act, 1881, when the day on which a promissory note or bill of exchange is at maturity is a public holiday, the instrument shall be deemed tobe due on the . . . . . . . . .

A. Said public holiday

B. 5 days succeeding public holiday

C. Next succeeding business day

D. Next preceding business day

Answer: Option D


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Related Questions on Negotiable Instruments Act

The term 'legal representative' in section 29 of the Negotiable Instruments Act, 1881

A. Does not include executors or administrator (Rama v. Praoin, AIR 1926 Mad 389)

B. Includes executors or administrator (K. Subbanna v. K. Subbarayudu, AIR 1926 Mad 390)

C. Includes executors but does not include administrators (P. Nayar v. T. Ramanna, AIR 1929 Mad 389)

D. Includes only administrators but does not include executors (P. K. Pati v. Damodar Sahu, AIR 1953 Ori 179)