{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.3A-108.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.3A-108.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.3A-108.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.3A-108.html"}],"law_id":60401,"edition_id":1,"section_id":60401,"structure_id":13868,"section_number":"8.3A-108","catch_line":"Payable on demand or at definite time","history":"Code 1950, \u00a7\u00a7 6-356, 6-359; 1964, c. 219, \u00a7\u00a7 8.3-108, 8.3-109; 1992, c. 693.","full_text":"a\n\nA 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\n\nA 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 (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\n\nIf 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.","order_by":null,"text":{"0":{"id":220888,"text":"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.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":220889,"text":"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 (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.","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a","next_prefix":"c"},"2":{"id":220890,"text":"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.","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b"}},"ancestry":[{"id":13868,"edition_id":1,"name":"General Provisions and Definitions","identifier":"1","label":"part","depth":2,"order_by":1,"parent_id":13054,"metadata":{},"date_created":"2026-06-26 03:46:08","date_modified":"2026-06-26 03:46:08","permalink":{"id":282707,"object_type":"structure","relational_id":13868,"identifier":"1","token":"8.3A\/1","url":"\/8.3A\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13054,"edition_id":1,"name":"Commercial Code \u2014 Negotiable Instruments","identifier":"8.3A","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:11","date_modified":"2026-06-26 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The record of this law\u2019s original creation isn\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1964, chapter 219; in 1992, chapter 693.<\/p>","references":[{"id":77332,"section_number":"8.3A-103","catch_line":"Definitions","order_by":null,"url":"\/8.3A-103\/"}],"refers_to":false,"permalink":{"id":282737,"object_type":"law","relational_id":60401,"identifier":"8.3A-108","token":"8.3A\/1\/8.3A-108","url":"\/8.3A-108\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.3A-108\/","token":"8.3A\/1\/8.3A-108","dublin_core":{"Title":"Payable on demand or at definite time","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.3A-108","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> A promise or order<\/span> 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. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> A promise or order<\/span> 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<\/span> 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. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> 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. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPAYABLE ON DEMAND OR AT DEFINITE TIME (\u00a7 8.3A-108)\n\na. A promise or order is “payable on demand” if it (i) states that\nit is payable on demand or at sight, or otherwise indicates that it is payable\nat the will of the holder, or (ii) does not state any time of payment.\n\nb. A promise or order is “payable at a definite time” if it is\npayable on elapse of a definite period of time after sight or acceptance or at a\nfixed date or dates or at a time or times readily ascertainable at the time the\npromise or order is issued, subject to rights of (i) prepayment, (ii)\nacceleration, (iii) extension at the option of the holder, or (iv) extension to\na further definite time at the option of the maker or acceptor or automatically\nupon or after a specified act or event.\n\nc. If an instrument, payable at a fixed date, is also payable upon demand made\nbefore the fixed date, the instrument is payable on demand until the fixed date\nand, if demand for payment is not made before that date, becomes payable at a\ndefinite time on the fixed date.\n\nHISTORY: Code 1950, \u00a7\u00a7 6-356, 6-359; 1964, c. 219, \u00a7\u00a7 8.3-108, 8.3-109;\n1992, c. 693.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}