demand loan

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Related to demand note: Demand Promissory Note

Demand loan

A loan which can be called by the lender at any time and carries no set maturity date.

Demand Loan

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.

demand loan

A loan due at any time the lender decides to request payment.

demand loan

A 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.
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References in periodicals archive ?
On the same date, C redeemed the single share of stock held by D for $500 and repaid the demand note.
For example, a company could pay off or pay down a demand note and then reissue the note or borrow again.
Thursday, Eugene police learned that two men had used a demand note and a knife to steal prescription drugs from a Rite-Aid pharmacy at 1560 Coburg Road.
In both robberies, an intruder fled the bank with an undisclosed amount of cash after presenting a teller with a demand note.
A man presented a demand note at the High Street branch of Continental Bank in downtown Eugene and escaped with an undisclosed amount of money, Eugene police said.