When the term of a note is specified in days, time is computed using the exact number of days from the date of the note to the date of its maturity.

Question

Quizplus · Accepted Answer

This is true. When the term of a note is specified in days, the time is calculated using the exact number of days between the date of the note and the date of its maturity. There is no adjustment made for weekends, holidays, or non-business days.

When the Term of a Note Is Specified in Days