Mr. K draws a bill of exchange payable60 days after sight to Mr. J. Mr. J holds the bill for 30 days before presenting it to Mr. N, the drawee, for…

According to Section 61 of the Negotiable Instruments Act,1881, when a bill is made payable “after sight”, the maturity period is calculated from the date of acceptance of the bill by the drawee. The period of holding the bill by the payee before presenting it for acceptance does not affect the commencement of the maturity period. In the present case, Mr. K draws a bill payable60 days after sight in favour of Mr. J. Although Mr. J keeps the bill for30 days before presenting it to Mr. N, the drawee, the maturity period will not begin until the date on which Mr. N accepts the bill. Therefore, the maturity period of the bill commences from the date of acceptance by Mr. N.