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n. 1) the date when the payment of the principal amount owed under the terms of a promissory note or bill of exchange becomes due. Quite often a note states that failure to pay interest or installment payments when due "accelerates" the note, making the "maturity date" immediate if such payments are demanded and not paid. 2) the age when one becomes an adult, which is 18 for most purposes. (See: promissory note, bill of exchange, acceleration, legal age)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

MATURITY. The time when a bill or note becomes due. In order to bind the endorsers such note or bill must be protested, when not paid, on the last day of grace. See Days of grace.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
The amount you invest is the amount you'll receive when the bond comes due. Mutual funds, however, price their bonds daily.
Gazprom sources say the company is waiting for a court verdict on who owns a 19% NTV stake pledged against a $262 million Media-Most debt that comes due July 10.
In addition to the bank debt, $291.7 million in bond debt comes due Nov.
An official at Air Do said the delay comes due to a change in its president and a review of operation costs and safety measures to lower the flight charges of the new services.
That was expected to rise another $400 million between now and 2007, when the mortgage comes due.
The results, of course, are exactly what Whitman will avoid in New Jersey if she manages to make her move to national office before the bill for her own taxi-cutting spree comes due. Likewise, the other Republican governors she credits with leading America's tax revolt are embarking upon slash-and-burn campaigns in their home states that will leave behind a trail of destruction long after they march on to the next stage in their political careers.