What is the difference between a promissory note and a demand note?
Unlike standard promissory notes, demand notes rarely have fixed repayment schedules and are highly flexible but riskier for borrowers. Promissory notes can be structured as lump sum, interest-only, or installment payments, while demand notes focus on immediate repayment rights.
What is a demand note?
A demand note is a promissory note that becomes payable any time the holder of the note requests payment. This differs from notes that are due by a certain date or have a repayment schedule. Sometimes, banks are willing to issue demand loans to customers they have worked with for a long time and have favorable credit.
A demand note is a loan with no fixed term or repayment schedule. It can be recalled upon the lenders request, assuming the notice required by the provisions of the loan are met. Given its relative informality, a demand loan (or note) is most common among family, friends, and close business associates.
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Kevins Demand Note | Flandria
Kevins Demand Note. Details. Stack Size. The maximum quantity of the item in a single stack. 20. Tradable. Whether the item can be traded with other
The Demand Note was the first paper currency issued by the U.S. government. Authorized by the acts of July 17 and August 5, 1861 (fiscal year 1862), Demand.
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