A promise or order is "payable on demand" if it states that it is payable:
A) only to the bearer.
B) on a particular date.
C) on the fulfillment of a condition.
D) at the will of the holder of the instrument.

Question

Quizplus · Accepted Answer

A promise or order is "payable on demand" if (1) it states that it is payable on "demand" or "sight" (or otherwise at the will of the holder of the instrument) or (2) it does not state any time for payment. For example, if the maker forgets to state when a note is payable, it is payable immediately at the request of the holder of the note.

A Promise or Order Is "Payable on Demand" If It