{"data":{"id":"us-ky/krs-355.3-108","jurisdiction":"us-ky","citation":"KRS 355.3-108","heading":"Payable on demand or at definite time.","body":"(1) A promise or order is \"payable on demand\" if it:\n(a) States that it is payable on demand or at sight, or otherwise indicates that it is\npayable at the will of the holder; or\n(b) Does not state any time of payment.\n(2) A promise or order is \"payable at a de finite time\" if it is payable on elapse of a\ndefinite period of time after sight or acceptance or at a fixed date or dates or at a\ntime or times readily ascertainable at the time the promise or order is issued, subject\nto rights of:\n(a) Prepayment;\n(b) Acceleration;\n(c) Extension at the option of the holder; or\n(d) Extension to a further definite time at the option of the maker or acceptor or\nautomatically upon or after a specified act or event.\n(3) If an instrument, payable at a fixed date, is also payable  upon demand made before\nthe fixed date, the instrument is payable on demand until the fixed date and, if\ndemand for payment is not made before that date, becomes payable at a definite\ntime on the fixed date.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33436","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:43Z","sha256":"76e8e2f1cafbe1249c5033c58fa940e4d5b9aa07b08294afebdeb0e0170b0499","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.3-107","next":"us-ky/krs-355.3-109"},"notice":"GroundRules: Original legal text. Not legal advice."}