payable on demand

Definition of "payable on demand"
  1. A debt, noted on a promissory note or bill of exchange, which requires payment when requested by the owed party
How to use "payable on demand" in a sentence
  1. The loan was payable on demand, putting pressure on the borrower.
  2. After signing the promissory note, he realized the sum was payable on demand.
  3. When the business failed to thrive, all their debts became payable on demand.

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