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payable on demand |
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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). 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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| Great Britain, in which there is such an immensity of circulating paper, shews that the value of paper depends as little on its quantity as that of specie, when the paper represents specie payable on demand. The note issued to B is not payable on demand or readily tradable and is due in flail in 2008. If a seller receives evidence of indebtedness that is payable on demand or readily tradable, the debt instrument is treated as payment (Section 453(f)(4)). |
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