What is At sight, On presentment, After sight? What is Maturity? At sight, On presentment, After sight Maturity are defined under Section 21 and 22 of Negotiable Instruments Act 1881
In a promissory note or bill of exchange the expressions "at sight" and "on presentment" mean on demand. 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.
The maturity of a promissory note or bill of exchange is the date at which it falls due.
Days of grace.
Every promissory note or bill of exchange which is not
expressed to be payable on demand, at sight or on presentment is
at maturity on the third day after the day on which it is
expressed to be payable.
Negotiable Instruments Act 1881
Section 21 - At sight, On presentment, After sight
Section 23 - Calculating maturity of bill or note payable so many months after date or sight
Section 24 - Calculating maturity of bill or note payable so many days after date or sight
Section 25 - When day of maturity is a holiday
CHAPTER III PARTIES TO NOTES, BILLS AND CHEQUES
Section 26 - Capacity to make, etc., the promissory notes, etc
Section 28 - Liability of agent signing
Section 29 - Liability of legal representative signing
Section 30 - Liability of drawer
Section 31 - Liability of drawee of cheque
Section 32 - Liability of maker of note and acceptor of bill
Section 33 - Only drawee can be acceptor except in need or for honour
Section 34 - Acceptance by several drawees not partners
Section 35 - Liability of indorser
Section 36 - Liability of prior parties to holder in due course
Section 37 - Maker, drawer and acceptor principals
Section 38 - Prior party a principal in respect of each subsequent party
Section 40 - Discharge of indorser's liability : Negotiable Instruments Act 1881