Examlex
How should we compare interest rates quoted over different time intervals-for example, monthly versus annual rates?
Demand Instrument
A demand instrument is a financial document that requires payment of a specified sum of money immediately upon demand or within a short time frame.
Overdue
Refers to something being past its expected or scheduled time, often used in the context of payments or tasks.
Primarily Liable
Refers to the party that bears the first or main responsibility for fulfilling an obligation or debt.
Secondarily Liable
Liable for paying the amount designated on an instrument if the primarily liable party defaults.
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