Demand Deposit Definition.

A demand deposit is a bank account where depositors can access their funds at any time without notice or penalty. This type of account is also called a checking account, share draft account, or share account at credit unions. The main feature of a demand deposit is that it can be accessed immediately upon request. … Read more

Renewal Option Definition.

A renewal option is a feature of some leases that allows the tenant to extend the term of the lease beyond the initial term. Renewal options give tenants the security of knowing they can stay in their current home or office for as long as they want, provided they give the landlord the required notice … Read more