23.Calculating maturity of bill or note payable so many months after date or sight
IllustrationVerified
In the at which a promissary or of exchange, made a stated number of or , or a certain event, is at , the period stated shall be held to terminate on the day of the month which corresponds with the day on which the instrument is d, or presented for acceptance or , or d for non-acceptance, or protested for non-acceptance, or the event happens, or, where the instrument is a of exchange made a stated number of and has been accepted for honour, with the day on which it was so accepted. If the month in which the period would terminate has no corresponding day, the period shall be held to terminate on the last day of such month.
Illustrations
(a) A negotiable instrument, d 29th January, 1878, is made at one month . The instrument is at on the third day the 28th February, 1878.
(b) A negotiable instrument, d 30th August, 1878, is made three . The instrument is at on the 3rd December, 1878.
(c) A promissory or of exchange, d 31st August, 1878, is made three . The instrument is at on the 3rd December, 1878.