payable

payable, adj. (Of a sum of money or a negotiable instrument) that is to be paid. • An amount may be payable without being due. Debts are commonly payable long before they fall due.

payable after sight. Payable after acceptance or protest of nonacceptance. See sight draft under DRAFT. [Cases: Bills and Notes 129(3). C.J.S. Bills and Notes; Letters of Credit§ 90.]

payable on demand. Payable when presented or upon request for payment; payable at any time. [Cases: Bills and Notes 129(3). C.J.S. Bills and Notes; Letters of Credit§ 90.]

payable to bearer. Payable to anyone holding the instrument. [Cases: Bills and Notes 210, 427(1). C.J.S. Bills and Notes; Letters of Credit § 145.]

payable to order. Payable only to a specified payee. [Cases: Bills and Notes 427. C.J.S. Bills and Notes; Letters of Credit§ 233.]

payable, n. See account payable under ACCOUNT.

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