Question 57.— A draft is drawn from one of the States in the United States where days of grace have been abolished, on a party in Canada. It reads, " At sight with one day's grace, pay," etc. How should this due date be calculated?

Answer.—The draft is payable on the day after acceptance. Section 14a of the Bills of Exchange Act fixes the days of grace to be allowed "where the bill itself does not otherwise provide," leaving other cases to be fixed by the terms of the bill. The fact that it is drawn from a place where there are no days of grace does not affect the matter in any way.