Demand Loan Agreement
From LawDepot Law Library
Definition of "Demand Loan Agreement"
A demand loan agreement is a loan agreement where the balance owing does not need to be repaid until the lender demands to be repaid. In other words, the loan is repayable “on demand”. There is no fixed end date for the repayment of the loan. Upon demand, the borrower is given a certain period of time to repay the outstanding balance of the loan agreement.