Instruments payable on demand require immediate payment upon presentation for promissory notes or bills without specified time and for cheques. A promissory note or bill of exchange lacking a specified time for payment, and a cheque, are treated as payable on demand, creating an obligation for ... Summary
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Instruments payable on demand require immediate payment upon presentation for promissory notes or bills without specified time and for cheques.
A promissory note or bill of exchange lacking a specified time for payment, and a cheque, are treated as payable on demand, creating an obligation for immediate payment upon presentation and distinguishing these demand instruments from those payable at a future time.
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