Maturity calculation for negotiable instruments: period ends on the corresponding day of the target month or its last day. Section 23 prescribes that a note or bill payable a stated number of months after date, after sight, or after an event matures on the day of the month corresponding to the instrument's date, presentation, note, protest, event, or, if accepted for honour, the acceptance date; if the terminating month has no corresponding day, maturity falls on that month's last day.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Maturity calculation for negotiable instruments: period ends on the corresponding day of the target month or its last day.
Section 23 prescribes that a note or bill payable a stated number of months after date, after sight, or after an event matures on the day of the month corresponding to the instrument's date, presentation, note, protest, event, or, if accepted for honour, the acceptance date; if the terminating month has no corresponding day, maturity falls on that month's last day.
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