§ 34.1-3-108 — Payable on demand or at definite time

Wyoming § 34.1-3-108

• Jurisdiction: Wyoming
• Title 34.1: Uniform Commercial Code
• Art. 3: NEGOTIABLE INSTRUMENTS

Text

(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 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.