Question

State True or False with reason:-

If a bill is drawn payable ‘on-demand’ no grace days are allowed.

विकल्प

• True

• False

Answer 1

This statement is True.

‘On-demand’ means the amount of the bill is to be paid by drawee immediately on presentation of the bill as no time period is mentioned on it. In demand bill 3 days grace are not allowed by law.