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The employee borrows directly from a bank on a demand note basis and pays an annual interest rate equal to the prime rate.
The City Council has now set its community charge, and the basic amount payable is shown on the enclosed demand note.
A demand note provides flexibility for the borrower, so long as the lender does not wish to call back the loan. Also referred to as a demand loan.
простой вексель, оплачиваемый по предъявлении
предъявительский вексель