Sight

Presentment

Bills of exchange are frequently drawn payable at sight or after sight. Bills payable at sight are said to be entitled to days of grace by the law merchant; Big. Bills & N. 92; Dan. Neg. Instr. § 617; Cribbs v. Adams, 13 Gray (Mass.) 597; contra, Trask v. Martin, 1 E. D. Sm. (N. Y.) 505. Statutes have provided otherwise in all but a few states. See Days of Grace. The holder of a bill payable at sight is required to use due diligence to put it into circulation, and, if payable after sight, have it presented in reasonable time; Robinson v. Ames, 20 Johns. (N. Y.) 146, 11 Am. Dec. 259, 28 E. L. & E. 131; Field v. Nickerson, 13 Mass. 137; Fernandez v. Lewis, 1 McCord (S. C.) 322. After sight in a bill means after acceptance; in a note, after exhibition to the maker; Dan. Neg. Instr. § 619. It is usual to leave a bill for acceptance one whole day; but the acceptance is dated as on the day it was left; Sewell, Bank. A bill drawn payable a certain number of days after sight, acceptance waived, must be presented to fix the time at which the bill is to become due, and the term of the bill begins to run from the date of presentment.

See 4 Montreal L. Rep. 249.

Sight drafts and sight bills are bills payable at sight.

See Bill of Exchange.