| 1. | However, cheque, that are payable on demand, can be issued by anyone.
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| 2. | In 1838, it was barred from issuing banknotes that were not payable on demand.
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| 3. | This development required the acceptance in trade of the goldsmiths'promissory notes, payable on demand.
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| 4. | This is payable on demand by RBI, being the issuer.
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| 5. | "Our invoices were payable on demand, " he said.
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| 6. | However, " three years later the Company issued true bank notes, payable on demand, and non-interest bearing ."
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| 7. | If payable on demand it is a " demand draft ", or if drawn on a financial institution, a cheque.
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| 8. | In the UK the legislation is clear;'A cheque is a bill of exchange drawn on a banker payable on demand '.
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| 9. | A cheque differs from a warrant in that the warrant is not necessarily payable on demand and may not be negotiable.
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| 10. | An example of time liability is a six month fixed deposit which is not payable on demand but only after six months.
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