The maturity of a bill of exchange at a certain sight period is determined, either by the date of the acceptance or by that of the protest.
In the absence of the protest, the undated acceptance is deemed, with respect to the acceptor, to have been given on the last day of the period provided for presentation at acceptance.
The due date of a bill of exchange drawn at one or more months’ date or sight takes place on the corresponding date of the month in which payment is to be made. In the absence of a corresponding date, the due date takes place on the last day of that month.
When a bill of exchange is drawn at one or more months and a half of date or sight, the whole months are counted first.
If the due date is fixed at the beginning, middle or end of the month, these terms are taken to mean the 1st, 15th or last day of the month.
The expressions “eight days” or “fifteen days” are understood, not of one or two weeks, but of a period of eight or fifteen effective days.
The expression “half month” indicates a period of fifteen days.