A promissory note executed on 30 June 1988, payable on demand. The promissory note was executed as a deed and therefore was a speciality falling under section 8 of the Limitation Act 1980, with a limitation period of 12 years. No demand was made for payment under the note within the period of 12 years. It is, and has been recognised for nearly 200 years as the law, that a promissory note payable on demand is enforceable from the date of its execution, and not from the date of any demand.
Waller, Buxton LJJ
[2004] EWCA Civ 915
Bailii
England and Wales
Citing:
Cited – Norton v Ellam 1837
Baron Parke said: ‘It is quite clear that a promissory note, payable on demand, is a present debt, and is payable without any demand, and the statute begins to run from the date of it.’ . .
Lists of cited by and citing cases may be incomplete.
Contract, Limitation
Updated: 23 November 2021; Ref: scu.517237
