WORD OF THE DAY: CURRENT ASSETS - Also called gross working capital, it refers to the group of assets considered the most liquid. It generally consists of cash, accounts receivable, inventory, prepaid expenses and a few minor items. C ... More
1. ) A promissory note that calls for principal to be payable on demand. More recently, courts have significantly restricted the circumstances under which a bank could make and enforce a demand for repayment under a demandnote.