The term “maturity” appears in a several of areas of law. The precise definition of maturity varies depending on the context in which it is used. For example:
- Regarding a person, maturity generally refers to the age at which a person becomes an adult, which in the United States in 18. “Maturity” may also be used in the context of the “psychological maturity” of a person, which refers the mental and emotional development of a person in relation to their age.
- When referring to financial instruments, a maturity date is the date on which payment becomes due for a promissory note, bond, or other debt instrument.
[Last updated in July of 2020 by the Wex Definitions Team]