terminating or due date of a note, time draft, acceptance, bill of exchange,
bond etc; the date a time instrument of indebtedness becomes due and payable,
e.g., a 60-day note become due and payable at the expiration of that period.
A check or sight or demand instrument matures upon presentation
drafts or bills of exchange drawn 30 days after sight mature 30 days after
acceptance, the maturity being fixed by computing the date 30 days thereafter.
Time drafts should therefore be presented for acceptance as soon
as possible whenever it is desirable to bring the maturity at the earliest
to maturity, bonds may be classified in four groups:
(1) obligatory maturity without provision for PRIOR REDEMPTION,
(2) obligatory maturity with prior redeemability with or without a premium,
(3) indeterminate maturity, i.e., no definite maturity indicated but redeemable
after a certain date at the option of the issuer, and (4) perpetual bonds
issued without provision for optional or obligatory maturity, except in
case of default in interest payments.
Some common stocks of the classified type, such as Class A, and
preferred stocks generally are issued subject to redemption, in whole
or in part, and usually at a premium.