Multiple choice

When the last day of grace falls on a day which is a public holiday, the instrument is due and payable on

  1. the succeeding business day

  2. the due date after grace period, i.e. on public holiday

  3. the due date before grace period

  4. the preceding business day

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

When the last day of grace falls on a day which is a public holiday, the instrument is due and payable on the preceding business day.