Iowa Code

Iowa Code § 554.3108 (2026)

Payable on demand or at definite time

✓ current as of July 2026

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1. A promise or order is “payable on demand” if it states that it is payable on demand or at sight, or otherwise indicates that it is payable at the will of the holder, or does not state any time of payment.

2. 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 prepayment, acceleration, extension at the option of the holder, or extension to a further definite time at the option of the maker or acceptor or automatically upon or after a specified act or event.

3. 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. 94 Acts, ch 1167, §17, 121, 122; 2013 Acts, ch 30, §261 Referred to in §554.3103 \n

Notes of Decisions

Cited in 3 cases, 1983–2018 · leading case: P.H.C.C.C., Inc. v. Johnston, 340 N.W.2d 774 (Iowa 1983).

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P.H.C.C.C., Inc. v. Johnston, 340 N.W.2d 774 (Iowa 1983). · cites it 4× “Plaintiff asserts that the issue is controlled by Iowa Code section 554.3108 (1981) which provides, in part: “instruments payable on demand include those .”

PHCCC, INC. v. Johnston, 340 N.W.2d 774 (Iowa 1983). · cites it 6× “Plaintiff asserts that the issue is controlled by Iowa Code section 554.3108 (1981) which provides, in part: "instruments payable on demand include those .”

S. Iowa Bin Builders, LLC d/b/a S. Iowa Bin Co. v. Steven Jerome Sieren (Iowa Ct. App. 2018). · cites it 2× “” Iowa Code § 554.3108 (1). The January 9, 2015 check indicates no condition on its face.”

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