The Due on Demand Promissory Note is a document that specifies the terms, rights, and obligations that apply to a loan. The party making the loan is the "Lender" and the party borrowing the loan funds is the "Borrower." The Note includes provisions regarding the amount of the loan, the interest rate, the date by which the loan must be repaid, and general provisions for enforcing the repayment of the loan. Due on Demand Promissory Note is payable "on demand," meaning it must be paid immediately by the Borrower upon request by the Lender. |