Texas § BC.3.108 - PAYABLE ON DEMAND OR AT DEFINITE TIME
Full text of Texas The Texas Constitution § BC.3.108 — PAYABLE ON DEMAND OR AT DEFINITE TIME, with citation guidance and answers to common questions.
§ BC.3.108. PAYABLE ON DEMAND OR AT DEFINITE TIME
PAYABLE ON DEMAND OR AT DEFINITE TIME. (a) A promise or order is "payable on demand" if it: (1) states that it is payable on demand or at sight, or otherwise indicates that it is payable at the will of the holder; or (2) 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: (1) prepayment; (2) acceleration; (3) extension at the option of the holder; or (4) extension to a further definite time at the option of the maker or acceptor or automatically on or after a specified act or event. (c) If an instrument, payable at a fixed date, is also payable on 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. Amended by Acts 1995, 74th Leg., ch. 921, Sec. 1, eff. Jan. 1, 1996.
Frequently Asked Questions About Texas § BC.3.108
What does The Texas Constitution § BC.3.108 cover?
Section BC.3.108 ("PAYABLE ON DEMAND OR AT DEFINITE TIME") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § BC.3.108?
A common citation format is "The Texas Constitution § BC.3.108" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § BC.3.108 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.