This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 7.— A draft is accepted thus: " Accepted payable at ... to mature 4th October, 1902." Does this acceptance mature on 4th or 7th October?
Answer.—Looking at the acceptance alone, we think the bill is due on 7th October. It cannot be said that it provides that there should be no days of grace, and under section 14 (a), Bills of Exchange Act, three days are in every case to be added to the time of payment fixed by the bill, unless the bill itself should otherwise provide.
Cheque or Acceptance Signed for a Firm by an Attorney Presented after the Attorney's Death.
Question 8.—Would a bank be justified in refusing payment of a cheque signed by, or a bill accepted by, a per- * son holding a power of attorney for a firm and signing as such, after having received advice of the attorney's death?
Answer.-—Assuming that the cheque or bill had been delivered before the attorney's death, the bank should not refuse payment because of his death.