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BILLS OF EXCHANGE ACT 1882 - SECT 14

Computation of time of payment.

14. Where a bill is not payable on demand the day on which it falls due is
determined as follows:

[(1)The bill is due and payable in all cases on the last day of the time of
payment as fixed by the bill or, if that is a non-business day, on the
succeeding business day.]

(2)Where a bill is payable at a fixed period after date, after sight, or after
the happening of a specified event, the time of payment is determined by
excluding the day from which the time is to begin to run and by including the
day of payment.

(3)Where a bill is payable at a fixed period after sight, the time begins to
run from the date of the acceptance if the bill be accepted, and from the date
of noting or protest if the bill be noted or protested for non-acceptance, or
for non-delivery.

(4)The term "month" in a bill means calendar month.

© 1882 Crown Copyright

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