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LSDefine

Simple English definitions for legal terms

demand note

Read a random definition: bookland

A quick definition of demand note:

A demand note is a type of loan that can be paid back whenever the person who lent the money asks for it. This is different from other loans that have a specific due date or payment schedule. Banks may give demand loans to people they trust, and friends or family may also give them to people they know well. The person who borrowed the money and the person who lent it can sign a contract that says how much was borrowed, if there is any interest, and if the lender needs to give notice before asking for the money back. Sometimes, these contracts are legally binding.

A more thorough explanation:

A demand note is a type of promissory note that can be paid back at any time the holder of the note requests payment. Unlike other types of notes, demand notes do not have a specific due date or repayment schedule.

  • A bank may issue a demand loan to a customer they have a long-standing relationship with and who has good credit.
  • A friend or family member may issue a demand loan to someone they have a close relationship with.

When a demand note is issued, both parties sign a contract that outlines the loan amount, any interest rate, and whether advanced notice is required before requesting full payment of the loan. These contracts are sometimes enforceable under the law, especially when the agreement is between a bank and another party.

The examples illustrate that demand notes can be issued by both banks and individuals, and that they are often used in situations where there is an existing relationship of trust between the parties involved.

demand letter | demise

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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