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Remark: Canadian law relating to promissory notes allows for a grace period to extend a due date that falls on a weekend or statutory holiday.

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Remark: Canadian law relating to promissory notes allows for a grace period to extend a due date that falls on a weekend or statutory holiday. The legal due date then becomes the next business day. For example, a promissory note s due for payment on July 1 . The legal date for the note becomes July 2. 6) [Do this on your own] Determine the value of a $1300 non-interest bearing note four months before its maturity date of July 13,2010 , if money is worth 7%

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