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demand note |
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demand note n. a promissory note which is payable any time the holder of the note makes a request. This is different from a note due at a specific time, upon occurrence of an event, or by installments. (See: promissory note) How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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It said that a loan requires an ascertainable maturity date--which a demand note has--not a fixed maturity date, and the Tax Court's interpretation would disqualify shareholders from using a common type of commercial loan. ``What we're seeing out in the Valley are individuals who enter the banks with a demand note with instructions on it to the teller that threatens or implies that he has a weapon,'' said Deputy Chief Michel Moore, who heads the Los Angeles Police Department's Valley Bureau. Again, in the case of a demand note, this amount should be relatively close (if not equal) to the note's face amount, as the holder may demand payment at any time. |
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demand note
