i) Mr. K draws a bill of exchange payable 60 days after sight to Mr.J. Mr. J holds the bill for 30 days before presenting it to Mr. N, the drawee, for acceptance. Mr. N accepts the bill upon presentation. Decide as per the provisions of the Negotiable Instruments Act, 1881, when does the maturity period of the bill commence?\nii) A promissory note is made payable at a specific place on a fixed date. The holder, Mr. Mohan presents the note for payment two days after the due date because of unforeseen circumstances. Decide each of the following as per the provisions of the Negotiable Instruments Act, 1881:\nA) Does the delay in presentation affect Mr. Mohan's right to recover the amount?\nB) Under what circumstances can a delay in presentation be excused according to the Act.

(i) According to Section 61 of the Negotiable Instruments Act, 1881, when a bill is made payable "after sight", the maturity period is calculated from the date of acceptance of the bill by the drawee. The period of holding the bill by the payee before presenting it for acceptance does not affect the commencement of the maturity period.\nIn the present case, Mr. K draws a bill payable 60 days after sight in favour of Mr. J. Although Mr. J keeps the bill for 30 days before presenting it to Mr. N, the drawee, the maturity period will not begin until the date on which Mr. N accepts the bill.\nTherefore, the maturity period of the bill commences from the date of acceptance by Mr. N.\n(ii) (A) No, Mr. Mohan's right to recover the amount does not get affected due to the delay in presentation of the promissory note two days after the due date because of unforeseen circumstances as it is provided under Section 75A of the Negotiable Instruments Act, 1881.\n(A) ALTERNATE ANSWER\nYes, the delay in presentation could affect Mr. Mohan's right to recover the amount. According to section 64 of the Act, a promissory note must be presented for payment at maturity. Failure to do so may discharge the maker from liability to the extent of any loss caused by the delay.\n(B) Excuse for delay in presentment for acceptance or payment (Section 75A)\nDelay in presentment for acceptance or payment is excused if the delay is caused by circumstances beyond the control of the holder, and not imputable to his default, misconduct or negligence. When the cause of the delay ceases to operate, presentment must be made within a reasonable time.