demand note

Popular Terms
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.

Use 'demand note' in a Sentence

The demand note required me to pay it back by that certain date, or I am sure we would have some problems.
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When he received the demand note that said the bulk of the repayment was due in just thirty days, Cole thought he had been mislead by the bank regarding the terms of the loan agreement.
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During the process of buying a house we received a demand note from our bank as a promissory notice.
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