maturity :: legal definition
Maturity - n. 1) the date when the payment of the principal amount owed under the terms of a promissory note or bill of exchange becomes due. Quite often a note states that failure to pay interest or installment payments when due "accelerates" the note, making the "maturity date" immediate if such payments are demanded and not paid. 2) the age when one becomes an adult, which is 18 for most purposes.
See also: acceleration bill of exchange legal age promissory note and Related Law Terms ↓
Related Law Terms
acceleration clause :: n. a provision in a contract or promissory note th ... . See also: acceleration assumptiondemand :: 1) v. to claim as a need, requirement or entitleme ... pay is made. See also: demand note
demand note :: n. a promissory note which is payable any time the ... allments. See also: promissory note
discount :: n. the payment of less than the full amount due on ... now-the difference is the discount.
holder :: n. a general term for anyone in possession of prop ... older in due course promissory note
make :: v. 1) to create something. 2) to sign a check, pro ... xchange check maker promissory note
maker :: n. 1) the person who signs a check or promissory n ... : check payee payor promissory note
mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed
note :: n. a promissory note, a written statement of debt ... the note. See also: promissory note
payment in due course :: n. the giving of funds to the holder of a promisso ... nds. See also: holder in due course
presentment :: n. 1) making a demand for payment of a promissory ... ee also: Grand Jury promissory note
promissory note :: n. a written promise by a person (variously called ... lso: interest obligee obligor usury
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malum in se :: (mal-uhm in say) adv. Latin referring to an act th ... hibitum. See also: malum prohibitum
malum prohibitum :: (mal-uhm prohibit-uhm) adj. Latin meaning "wrong d ... lso: malum in se white collar crime
mandamus :: (man-dame-us) n. Latin for "we order," a writ (mor ... mandamus. See also: writ of mandate
mandate :: n. 1) any mandatory order or requirement under sta ... See also: mandamus writ of mandate
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