Definition of Extension or renewal of note
Takes place when parties agree upon valuable consideration for maturity of debt on day subsequent to that provided in original contract. Elk Horn Bank & Trust Co. v. Spraggins, 182 Ark. 27, 30 S.W.2d 858, 859.
That's the definition of Extension or renewal of note in Black's Law Dictionary 6th Edition. Courtesy of Cekhukum.com.
