demand note (Meaning)
Wordnet
demand note (n)
a note payable on demand
Synonyms & Antonyms of demand note
No Synonyms and anytonyms found
demand note Sentence Examples
- A demand note is a type of promissory note that is payable on demand by the lender.
- The borrower signed a demand note promising to repay the loan whenever the lender requested it.
- Demand notes are often used for short-term financing needs or as a form of temporary borrowing.
- Unlike traditional loans with fixed repayment schedules, a demand note allows the lender to call in the loan at any time.
- Demand notes are commonly used in commercial transactions and can be an alternative to traditional bank loans.
- The terms of a demand note typically include the principal amount borrowed, the interest rate, and any fees or penalties for early repayment.
- The lender may require collateral to secure a demand note, especially for larger loan amounts.
- The borrower must be prepared to repay the demand note in full upon receiving a demand from the lender.
- Demand notes are often used by businesses to manage cash flow or cover unexpected expenses.
- Before signing a demand note, borrowers should carefully consider their ability to repay the loan on short notice.
FAQs About the word demand note
a note payable on demand
No synonyms found.
No antonyms found.
A demand note is a type of promissory note that is payable on demand by the lender.
The borrower signed a demand note promising to repay the loan whenever the lender requested it.
Demand notes are often used for short-term financing needs or as a form of temporary borrowing.
Unlike traditional loans with fixed repayment schedules, a demand note allows the lender to call in the loan at any time.
