Question

Bill of exchange payable on demand meaning

Answer 1

Basically, a bill payable on demand refers to a bill of exchange, i.e., a written order to a person requiring them to make a specified payment to the signatory or to a named payee, which has to be paid at that moment when the creditor asks for it, after it's signed.

A bill is payable on demand when:

(a) it is expressed to be payable on demand, or at sight, or on presentation; or

(b) in it no time for payment is expressed.
and etc reason.
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Answer 2

Answer:

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Basically, a bill payable on demand refers to a bill of exchange, i.e., a written order to a person requiring them to make a specified payment to the signatory or to a named payee, which has to be paid at that moment when the creditor asks for it, after it's signed.