payable on demand
A debt on a promissory note or bill of exchange which must be paid when demanded by the payee (the party to whom the debt is owed).
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Nolo’s Plain-English Law Dictionary. . 2009.

payable on demand
adj.
   a debt on a promissory note or bill of exchange which must be paid when demanded by the payee (party to whom the debt is owed).

Law dictionary. . 2013.

Look at other dictionaries:

  • payable on demand — ► FINANCE used to describe a loan that may have to be paid back at any time, with little or no warning: »Many business loans are payable on demand. Main Entry: ↑payable …   Financial and business terms

  • payable on demand — See demand paper …   Ballentine's law dictionary

  • payable on demand —    A debt on a promissory note or bill of exchange that must be paid when demanded by the individual to whom the debt is owed (i.e., the payee) …   Business law dictionary

  • demand note — see note Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. demand note A note or instrument that is pay …   Law dictionary

  • payable — pay·able adj: that may, can, or must be paid Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. payable I …   Law dictionary

  • Demand — De*mand , n. [F. demande, fr. demander. See {Demand}, v. t.] 1. The act of demanding; an asking with authority; a peremptory urging of a claim; a claiming or challenging as due; requisition; as, the demand of a creditor; a note payable on demand …   The Collaborative International Dictionary of English

  • demand bill — n. a bill payable on demand …   English World dictionary

  • demand note — n. a promissory note payable on demand …   English World dictionary

  • Demand Note — This article is about the Demand Notes issued by the U.S. government. For demand note referring to any promissory note that is payable on demand, see promissory note. Top row: The distinctive green ink used on the backs of Demand Notes gave rise… …   Wikipedia

  • demand — I v. To claim as one s due; to require; to ask relief. To summon; to call in court II n. The assertion of a legal right; a legal obligation asserted in the courts. An imperative request preferred by one person to another, under a claim of right,… …   Black's law dictionary

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