paymeny of bill after sight
This query is : Resolved
24 July 2010
sir, wud u plz explain this
"if a bill of exchange is payable sum time after sight , it is the required to be accepted either by the drawee himself or by someone else on his behalf,before it can be presented for payment
"if a bill of exchange is payable sum time after sight , it is the required to be accepted either by the drawee himself or by someone else on his behalf,before it can be presented for payment
24 July 2010
In the case of the bill of exchange after sight due date is counted from the date of acceptance of the bill. So it is necessary that it should be accepted. Thus, in case of document ‘after sight’, the countdown starts only after document is ‘sighted’ by the concerned party.
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