Asked by
Lester Bondoc
on Nov 27, 2024Verified
The nature of an instrument, such as a check, may indicate that it is payable on demand.
Nature
The phenomena of the physical world collectively, including plants, animals, the landscape, and other features and products of the earth, as opposed to humans or human creations.
Instrument
A formal legal document that serves as evidence of a fact or a right, and can include negotiable instruments in financial transactions.
Payable On Demand
A financial term referring to a debt or obligation that must be paid or fulfilled whenever the lender or beneficiary demands.
- Comprehend the principles surrounding demand instruments and their characteristic of being immediately payable.
Verified Answer
TM
Learning Objectives
- Comprehend the principles surrounding demand instruments and their characteristic of being immediately payable.