At sight, On presentment, After sight
Full Text
“At sight” “On presentment”.—In a promissory note or bill of exchange the expressions “at sight” and “on presentment” mean on demand.
“After sight”.—The expression “after sight” means, in a promissory note, after presentment for sight, and, in a bill of exchange, after acceptance, or noting for non-acceptance, or protest for non-acceptance.
Plain English Summary
Defines the terms 'at sight' and 'on presentment' as meaning on demand, and defines 'after sight' depending on whether it is a promissory note or bill of exchange.
Key Legal Elements
- 'At sight' and 'On presentment' mean on demand
- In a promissory note, 'After sight' means after presentment for sight
- In a bill of exchange, 'After sight' means after acceptance, noting for non-acceptance, or protest for non-acceptance
Practical Note
Crucial for calculating the date of maturity of bills and notes. If a bill is payable 'after sight', the maturity period starts from the date of acceptance/noting/protest rather than the drawing date.
हिंदी पाठ
“दर्शन पर” “प्रस्तुत करने पर”।—वचन-पत्र या विनिमय-पत्र में “दर्शन पर” (at sight) और “प्रस्तुत करने पर” (on presentment) अभिव्यक्तियों का अर्थ मांग पर (on demand) है।
“दर्शन के पश्चात्”।—“दर्शन के पश्चात्” (after sight) अभिव्यक्ति से अभिप्रेत है, वचन-पत्र में दर्शन के लिए प्रस्तुत करने के पश्चात्, और विनिमय-पत्र में स्वीकृति के पश्चात्, या अस्वीकृति के लिए टिप्पण (noting) या अस्वीकृति के लिए प्रसाक्ष्य (protest) के पश्चात्।