21B: A note or bill payable at a determinable future time

A promissory note or bill of exchange is payable at a determinable future time within the meaning of this Act if it is expressed to be payable― (a) at a fixed time after date or sight; or (b) on or at a fixed time after the occurrence of a specified event which is certain to happen, though the time of its happening may be uncertain.

Effective date: 1881-12-09

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