Demand Note with No Specified Term
Synthèse Legislator
Généré par l'IAAn individual who signed an agreement acknowledging a debt and promising repayment upon demand, without any clause specifying a time limit for the demand, cannot indefinitely delay repayment by refusing to make the demand, as the debtor's obligation to pay becomes due immediately upon the creditor's demand, and the absence of a stipulated term means the creditor must act within a reasonable time, which, upon the debtor's objection, is assessed by the court.
Regeste Legislator
Généré par l'IADemand Note with No Specified Term: An individual who signed an agreement acknowledging a debt and promising repayment upon demand, without any clause specifying a time limit for the demand, cannot indefinitely delay repayment by refusing to make the demand, as the debtor's obligation to pay becomes due immediately upon the creditor's demand, and the absence of a stipulated term means the creditor must act within a reasonable time, which, upon the debtor's objection, is assessed by the court.