---
title: O.C.G.A. § 11-3-108. Payable on demand or at definite time.
collection: code
id: 11-3-108
cite_as: O.C.G.A. § 11-3-108 (2025)
canonical_url: https://georgiacommons.org/code/11-3-108
md_url: https://georgiacommons.org/code/11-3-108.md
text_url: https://georgiacommons.org/code/11-3-108/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t11-(v9)-2022-pdf.pdf?sfvrsn=b5451bbd_0#page=349
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: COMMERCIAL CODE / NEGOTIABLE INSTRUMENTS / GENERAL PROVISIONS AND DEFINITIONS
---

# O.C.G.A. § 11-3-108. Payable on demand or at definite time.

(a) A promise or order is “payable on demand” if it (i) states that it is payable on demand or at sight, or otherwise indicates that it is payable at the will of the holder; or (ii) does not state any time of payment.

(b) A promise or order is “payable at a definite time” if it is payable upon the 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 (i) prepayment; (ii) acceleration; (iii) extension at the option of the holder; or (iv) 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.

## History

Code 1981, § 11-3-108, enacted by Ga. L. 1996, p. 1306, § 3.

## Law Reviews

For note, “Negotiable Promissory Notes Containing Time and Demand Provisions: The Need for Consistent Interpretation,” see 19 Ga. L. Rev. 717 (1984).