Maturity on public holiday deemed to fall on preceding business day for negotiable instruments, shifting payment obligation. When a promissory note or bill of exchange falls due on a public holiday, the instrument is deemed to be due on the next preceding business day, shifting ... Summary
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Maturity on public holiday deemed to fall on preceding business day for negotiable instruments, shifting payment obligation.
When a promissory note or bill of exchange falls due on a public holiday, the instrument is deemed to be due on the next preceding business day, shifting the timing for payment and related obligations; "public holiday" includes Sundays and days declared by the Central Government by notification in the Official Gazette.
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