PAYABLE

payable,adj. (Of a sum of money or a negotiable instrument) that is to be paid. • An amount may be payable without being due. Debts are commonly payable long before they fall due.

payable after sight.Payable after acceptance or protest of nonacceptance. See sight draft under DRAFT. [Cases: Bills and Notes  129(3). C.J.S. Bills and Notes; Letters of Credit§ 90.]

payable on demand. Payable when presented or upon request for payment; payable at any time. [Cases: Bills and Notes  129(3). C.J.S. Bills and Notes; Letters of Credit§ 90.]

payable to bearer. Payable to anyone holding the instrument. [Cases: Bills and Notes  210, 427(1). C.J.S. Bills and Notes; Letters of Credit § 145.]

payable to order. Payable only to a specified payee. [Cases: Bills and Notes  427. C.J.S. Bills and Notes; Letters of Credit§ 233.]

payable,n. See account payable under ACCOUNT.

[Blacks Law 8th]