demand note definition

demand note

Promissory note from a borrower to a lender, with a specific due date or payable whenever lender demands repayment. In contrast to a mortgage loan, a demand note does not require a show-cause notice to be given to a delinquent borrower.

demand note is in the Accounting & Auditing and Banking, Commerce & Finance subjects.

demand note appears in the definition of the following term: bank loan instrument

demand note appears in the other term: variable rate demand note (VRDN)

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