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What is meant by maturity of a bill of e...

What is meant by maturity of a bill of exchange?

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The term maturity refers the date on that a bill of exchange or a note becomes due for payment. In inbound at the maturity 3 days, called days of grace, should be additional to the date on that the amount of credit expires instrument is owed.
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What is a bill of Exchange?

Maturity Of Bills

On 1st March , 2019 R accepted a Bill of Exchange of ₹ 20,000 from S payable 3 months after date in full settlument of his dues. On the same day S endorese the Bill of Exchange to T together with a Cheque for ₹ 5,000 insttlement of his debt to the latter. on 2nd March , 2019. T discounted the Bill of Exchange @6% p.a. with his bank. on maturity the Bill of Exchange was dishonoured Journalise the transactions in the books of R and T.

What do you mean by discounting of bills of exchange ?

Parter To A Bill Of Exchange