A demand note allows the business to borrow and repay funds up to the maximum amount specified in the agreement throughout the year.

Name: A demand note allows the business to borrow and repay funds up to the maximum amount specified in the agreement throughout the year.
Brand: Quizplus
Rating: 4.9 (48 reviews)

Question

Quizplus · Accepted Answer

A demand note is a loan agreement that allows the lender to demand repayment at any time, but it does not typically allow for borrowing and repaying up to a maximum amount throughout the year like a line of credit does.

A Demand Note Allows the Business to Borrow and Repay