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La. Rev. Stat. § 10:3-108 (2026)

Payable on demand or at definite time

✓ current as of May 2026
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§3-108.  Payable on demand or at definite time

(a)  A promise or order is "payable on demand" if it (i) states that it is payable on demand or at sight, or otherwise indicates that it is payable at the will of the holder, or (ii) does not state any time of payment.  

(b)  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 (i) prepayment, (ii) acceleration, (iii) extension at the option of the holder, or (iv) extension to a further definite time at the option of the maker or acceptor or automatically upon or after a specified act or event.  

(c)  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.  

Acts 1992, No. 1133, §3, eff. July 1, 1993; Acts 1993, No. 948, §10, eff. Jan. 1, 1994.  

Notes of Decisions
Cited in 14 cases (2 in the last 5 years), 1979–2024 · leading case: Henning Const. v. First E. Bank, 635 So. 2d 273 (La. Ct. App. 1994).
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Henning Const. v. First E. Bank, 635 So. 2d 273 (La. Ct. App. 1994). · cites it 4× “R.S. § 10:3-108(a) (West 1993), new La.R.”
Louisiana Ag Credit v. Livestock Producers, 954 So. 2d 883 (La. Ct. App. 2007). “This includes situations in which the declarant: * * * (4) Is unable to be present or to testify at the hearing because of death. . . . [2] A promise or order is "payable on demand" if it (i) states that it is payable on demand or at sight, or otherwise indicates that it is…”
Johnston v. Johnston, 568 So. 2d 567 (La. Ct. App. 1990). · cites it 2× “Plaintiff contends that only those notes due prior to October 5, 1983 are prescribed. The trial court maintained the exception of prescription as to the entire note.”
Blanchard v. Progressive Bank & Trust Co., 413 So. 2d 589 (La. Ct. App. 1982). · cites it 2× “R.S. 10:3-108. [1] In People's National Bank, New Iberia v.”
Bespress, Inc. v. Capital Bank of Delhi, 616 So. 2d 795 (La. Ct. App. 1993). “See LSA-R.S. 10:3-108, partially defining when paper is payable on demand.”
Crown Mortg. Corp. v. Carrico, 606 So. 2d 29 (La. Ct. App. 1992). · cites it 2× “LSA-R.S. 10:3-108 and 10:3-109 establish the legal distinctions between demand notes and notes payable at a definite time: R.”
Sec. Nat. Part. Ltd. Partner. v. Baxley, 859 So. 2d 890 (La. Ct. App. 2003). “R.S. 10:3-108(a). Security National demonstrated its possession of the Handnote by (i) presenting it into evidence, (ii) presenting evidence of a chain of assignments to the Handnote, culminating in Alaska's assignment to Security National, and (iii) proving the Handnote's…”
Messer v. Harris, 442 So. 2d 1284 (La. Ct. App. 1983). “3544; LSA-R.S. 10:3-108. PARTITION Mrs. Harris has challenged, on appeal, the trial judge’s order that the property of the former community be sold to effect a partition by licitation.”
Succession of Vidrine, 377 So. 2d 564 (La. Ct. App. 1979). “7:7 as well as R.S. 10:3-108 provide that a note is payable on demand if it fails to state a time for payment.”
Sec. Bank v. Frost, 524 So. 2d 937 (La. Ct. App. 1988). “A cause of action exists on a demand note as of the date of its issue, here June 26, 1986, even if no demand has been made.”
O'Neal v. Succession of Wells, 774 So. 2d 1084 (La. Ct. App. 2000). · cites it 2× “However, under LSA-R.S. 10:3-108, a promise or order is “payable on demand” if it does not state any time of payment.”
Matherne v. Rise, 479 So. 2d 580 (La. Ct. App. 1985). “R.S. 10:3-108. An instrument is payable at a definite time when it is payable on or before a stated date.”
Show all 14 citing cases →
La. Rev. Stat. § 10:3-108(a): 4 cases
Henning Const. v. First E. Bank, 635 So. 2d 273 (La. Ct. App. 1994). “R.S. § 10:3-108(a) (West 1993), new La.R.”
Louisiana Ag Credit v. Livestock Producers, 954 So. 2d 883 (La. Ct. App. 2007). “This includes situations in which the declarant: * * * (4) Is unable to be present or to testify at the hearing because of death. . . . [2] A promise or order is "payable on demand" if it (i) states that it is payable on demand or at sight, or otherwise indicates that it is…”
Sec. Nat. Part. Ltd. Partner. v. Baxley, 859 So. 2d 890 (La. Ct. App. 2003). “R.S. 10:3-108(a). Security National demonstrated its possession of the Handnote by (i) presenting it into evidence, (ii) presenting evidence of a chain of assignments to the Handnote, culminating in Alaska's assignment to Security National, and (iii) proving the Handnote's…”
O'Neal v. Succession of Wells, 774 So. 2d 1084 (La. Ct. App. 2000). “However, under LSA-R.S. 10:3-108, a promise or order is “payable on demand” if it does not state any time of payment.”
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