insert into testtable ([product_name], [price], [expire_date], [expire_time])
  values ('Teapot', 10.00, 23/12/2012, '12:35:00')

Column name   |   datatype
----------------+---------------
product_name    | varchar(30)
price           | money
expire_date     | date
expire_time     | time(7)

insert into dbo.testtable ([product_name], [price], [expire_date], [expire_time])
  values ('Teapot', 10.00, '2012-12-23', '12:35:00');

SET LANGUAGE FRENCH;
DECLARE @d DATETIME = '2012-12-23';

SET DATEFORMAT MDY;
DECLARE @d DATE = '23/12/2012';