Demand Line Of Credit

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Definition: Demand Line Of Credit

Demand Line Of Credit
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Full Definition of Demand Line Of Credit

An arrangement wherein a bank agrees to let a firm or an individual borrow on demand. The borrower is not obliged to take out a loan from the bank but he may do so if he demands it, provided, that he does not exceed the maximum amount allotted to him.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/demand-line-of-credit/
Modern Language Association (MLA):
Demand Line Of Credit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
April 18, 2024 https://payrollheaven.com/define/demand-line-of-credit/.
Chicago Manual of Style (CMS):
Demand Line Of Credit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/demand-line-of-credit/ (accessed: April 18, 2024).
American Psychological Association (APA):
Demand Line Of Credit. PayrollHeaven.com. Retrieved April 18, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/demand-line-of-credit/

Definition Sources

Definitions for Demand Line Of Credit are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.