Section 13: Time of payment
consolidated text (as at 2011, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
13. Time of payment
(1) Where a bill is not payable on demand, the day on which it falls due
is determined as follows—
(a) where a bill is payable at a fixed period after date, after sight, or
after the happening of a specified event, the time of payment is
determined by excluding the day from which the time is to begin
to run and by including the day of payment;
(b) where a bill is payable at a fixed period after sight, the time begins to run from the date of the acceptance if the bill is accepted, and from the date of protest if the bill is protested for
non-acceptance, or for non-delivery.
(2) Where the last day for the time of payment as specified in the bill is a
non-business day, the bill shall, for the purposes of subsection (1), be payable on the next business day.
[S. 13 amended by s. 103 (1) (a) of Act 35 of 2004 w.e.f. 10 November 2004.]