Multiple choice

Where in a promissory note or a bill of exchange, the expressions “at sight” and “on presentment” are mentioned. It means that it is payable

  1. on demand

  2. after acceptance

  3. on non-acceptance

  4. None of these
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A Correct answer
Explanation

In a promissory note or a bill of exchange, the expressions “at sight” and “on presentment” mean "on demand". The expression “after sight” in a promissory note means after presentment for sight, and in a bill of exchange after acceptance or noting for non-acceptance or protest for non-acceptance.

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