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Payable immediately on request. A note that is payable on demand is one that is to be paid the moment payment is requested by the individual who has legal possession thereof. Cross-referenceson demand adj. in a promissory note, a requirement that the amount due must be paid when the person to whom the funds are owed demands payment (rather than upon a certain date or on installments). Such a note is called a "demand note." (See: demand note) Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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