Maturity

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maturity

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)

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.

References in periodicals archive ?
"I know he wasn't fully mature last year, and if he has matured now I think you'll find a better Denman rather than a worse one.
ABOUT 15,000 workers at supermarket group Asda have received free shares worth more than pounds 2 million after one of the group's share ownership plans matured.
SUPERMARKET staff in Huddersfield are among 15,000 Asda employees to get free shares after share ownership plans matured.
The new look is punctuated by the more rounded shape of the bottles and highlighted by a new brand emblem, the Glenmorangie "Signet." The brand's flagship Ten Years Old has been renamed Glenmorangie Original, and the well-known Wood Finished Range will now be known as the Extra Matured Range of expressions.
The new look is punctuated by the more rounded shape of the bottles and highlighted by a new brand emblem, the Glenmorangme "Signet." The brand's flagship Ten Years Old has been renamed Glenmorangie Original, and the well-known Wood Finished Range will now be known as the Extra Matured Range of expressions.