New Jersey § 12a:3-108

§ 12a:3-108.

a. A promise or order is “ payable on demand ” if it states that it is payable on demand or at sight, or otherwise indicates that

it is payable at the will of the holder, or does not state any time of payment. b. A promise or order is “ payable at a definite time ” if it is payable on elapse of a definite period of time after sight or acceptance

or at a fixed date or dates or at a time or times readily ascertainable at the time

the promise or order is issued, subject to rights of prepayment, acceleration, extension

at the option of the holder, or extension to a further definite time at the option

of the maker or acceptor or automatically upon or after a specified act or event. c. If an instrument, payable at a fixed date, is also payable upon demand made before

the fixed date, the instrument is payable on demand until the fixed date and, if demand

for payment is not made before that date, becomes payable at a definite time on the

fixed date.