Multiple choice

The term of a bill 'after date commences'

  1. from the date of acceptance of the bill

  2. from the date of drawing a bill

  3. from the date of receipt of the accepted bill

  4. from the date of receipt of drawn bill
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

 When a bill is drawn 'after date', the term of the bill commences from the date of drawing the bill and when the bill is drawn aftersight, the term of the bill begins from the date of 'sighting', i.e. when the bill is accepted.

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