demand loan(redirected from demand note)
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Related to demand note: Demand Promissory Note
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A loan that must be paid on demand from the lender. Demand loans are often used to fund margin accounts; alternatively, they are common for personal loans with no set maturity. Demand loans often require collateral and are also called call loans. See also: Margin call.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
A loan due at any time the lender decides to request payment.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
demand loanA loan that states it is due upon demand, rather than on any certain date or upon the happening of a certain event.For purposes of calculating the statute of limitations within which to sue on a demand loan,it is treated as if demand were made and default occurred on the very first day the loan was made,even if that did not truly happen in fact.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.