adj. a debt on a promissory note or bill of exchange which must be paid when demanded by the payee (party to whom the debt is owed).
It refers to a note (promissory) which is payable at a time when the payee request for it.If a promise mentions a payment to be made at sight or demand, it needs to be fulfilled. Even if the promise or order does not state a time, it is payable on demand of the payee.
A debt on a promissory note or bill of exchange which must be paid when demanded by the payee (the party to whom the debt is owed).