This section is from the book "A Commentary On The Law Of Contracts", by Francis Wharton. Also available from Amazon: A Commentary On The Law Of Contracts.
When a place is fixed for the performance of a contract, but no specific time is designated, then the promisor must notify the promisee when he proposes to attend at the specified place for the purpose of performance. When the day as well as the place is designated, "the law appoints the last convenient time of the day for both to attend for the purpose, and the promisor may protect himself from default by being then present at the place, prepared to pay or perform his contract; but it is also sufficient for him to tender the payment or performance at the place, if the promisee should happen to be there, at any time upon the day appointed."8 But when the contract provides for the payment, at a designated place, of certain articles to be chosen by the promisee, but no time is fixed for payment in the contract, the payment is to be on demand.1
So of goods payable on demand.
Time in other cases to be inferred.
1 See Taylor V. R. R., L. R. 1 C. P. 385; Ellis V. Thompson, 3 M. & W. 445; Howe V. Huntingdon, 15 Me. 350; Green V. Dingley, 24 Me. 131; Cameron V. Wells, 30 Vt. 633; Roberts V. Beatty, 2 Pen. & W. 63; Murray V. Smith, 1 Hawks. 41; Boyd V. Gunnison, 14 W. Va. 1; Philips V. Morrison, 3 Bibb, 105.
2 Ellis V. Thompson, 3 M. & W. 445; Jones V. Gibbins, 8 Ex. 920; Cocker V. Hemp Co., 3 Sumn. 530; Coates V. Sang-ston, 5 Md. 121.
3 Cocker V. Hemp Co., 3 Sumn. 530; Atwood V. Cobb, 16 Pick. 227.
4 Supra, sec 575 et seq.
5 2 Ch. on Cont. 11th Am. ed. 1206; Dunn V. Marston, 34 Me. 382; Higgins V. Emmons, 5 Conn. 76; Rice V. Churchill, 2 Denio, 145.
6 Mason V. Briggs, 16 Mass. 453; Rice V. Churchill, 2 Denio, 145; infra, sec 982 et seq.
7 Vance V. Bloomer, 20 Wend. 196.
8 Leake, 2d ed. 835; citing Co. Lit. 202a, 211a; Wade's case, 5 Co. 114 a; Myers V. De Mier, 52 N. Y. 647.
The full limit of time specified for performance is allowed to the party from whom the performance is due.2 Thus the acceptor of a bill of exchange has the whole day on which the bill becomes due to make payment; and though it may be presented for payment at any time during business hours of that day, and if refused, may be treated as dishonored, and notice given accordingly, yet if payment be tendered at any time during the day, the dishonor and notice will be avoided.3 And where a party has a month in which to perform a contract, suit cannot be brought against him for non-performance until that month is expired.4 And a contract to deliver coal within the last fourteen days of March, is satisfied by a tender on the last business hour on the thirty-first of March.5 - A contract to deliver oil, " buyer's option, at any time from this to December 31st," gives the seller the whole of December 31st for performance.6
 
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