Multiple choice

On 1.12.05 X draws a bill on Y “for 30 days after sight”. The date of acceptance is 8.12.05. The due date of the bill will be

  1. 8.01.06

  2. 10.1.06

  3. 11.1.06

  4. 9.1.06
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

For a bill payable '30 days after sight', the due date is calculated from the date of acceptance, not the date of drawing. Adding 30 days to 8.12.05 gives 7.1.06. Adding 3 days of grace (standard for bill transactions) gives 10.1.06. Option A (8.1.06) would be correct only if no grace days were added.

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