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