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on demand

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(Querist)
24 July 2010 sir, can u plz explain
"neither a promissory note nor a bill of exchange can be made payable to bearer ON DEMAND"
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Rasesh

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Rasesh (Expert)
27 July 2010 Payable to bearer - means payable to the person who holds the instruments

on demand - means payable anytime on demand

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