Payable On Demand Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Payable On Demand, written in plain English, along with examples of how it is used.
What is Payable On Demand?
It refers to a note (promissory) which is payable at a time when the payee request for it.If a promise mentions a payment to be made at sight or demand, it needs to be fulfilled. Even if the promise or order does not state a time, it is payable on demand of the payee.