Demand Loan

Crown Loan
A Crown loan is a demand loan extended to children or parents of the lenders, named after Chicago industrialist Harry Crown. Originally interest-free, such loans are now regulated to include a market rate of interest or they are subject to gift taxes.
Demand Loan
A demand loan is a type of loan that must be repaid upon the lender's request, rather than on a predetermined date.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.