Demand Note (Noun)
Meaning
A note payable on demand.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The lender issued a demand note to the borrower, allowing them to request immediate repayment of the loan at any time.
- A demand note was signed by the entrepreneur, securing the necessary funds from the investor to launch the startup.
- In the event of default, the creditor could invoke the demand note and demand full repayment of the loan instantly.
- The bank provided a demand note to the business owner, who agreed to repay the loan on demand with interest.
- A demand note with a high interest rate was accepted by the borrower, who understood that the lender could call in the loan at any moment.