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)

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 ?
"A rice crop that matures in 100 days will require approximately 1000 millimeters of water while a crop that matures in 150 days will require 50 percent more.
Each loan is supported by Caterpillar Financial Services Corporation in the form of a dealer loan purchase agreement that is available to be drawn upon when CP matures.
The company paid $828,650 on its $500 million note due on February 1, 2010, 35.6 million euros on its 750 million-euro note which matures on January 30, 2014, and GBP30 million on a 500 million-pound note maturing on February 1, 2017, the report says.
Although the commercials can still be caught on TV from time to time--especially late at night and during reruns of Murder, She Wrote--it's no longer a prime example of how to market to the oldest consumers, or "the Matures," as they're known.
When the share plan matures, staff can either opt to cash in their shares or continue to hold them.
When the share plan matures, staff can opt to cash in their shares or hold them.
The survey--which polled individuals having a total net worth of $100,000 or more--showed that, among investors who have reallocated assets over the past 12 months, 67% of Matures and 63% of Boomers added equities as opposed to 53% of GenXers.
When the ISA matures, savers who have kept the product for the full five years will be eligible for a return linked to the growth of the stock market.
Allow an open space a minimum of 20 feet in diameter around the sapling so it won't be crowded as it matures.
Also be conscious of a tree's root system, which can damage sewer lines or sidewalks as it matures, says Lamb.
And their animal research suggests that the intestinal surface matures less rapidly in formula-supplemented infants than in those receiving breast milk only.