Time - Negotiable Instruments

Sec. 85. Time of maturity. - Every negotiable instrument is payable at the time fixed therein without grace. When the day of maturity falls  upon  Sunday  or  a  holiday,  the  instruments  falling  due  or becoming payable on Saturday are to be presented for payment on the next succeeding business day except that instruments payable on  demand  may,  at  the  option  of  the  holder,  be  presented  for payment before twelve o'clock noon on Saturday when that entire day is not a holiday.


Sec. 86. Time; how computed. - When the instrument is payable at a fixed  period after date, after sight, or  after that 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 date of payment.