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Legal Memorandum: Time for Performance of a Contract

Issue: Does the failure of the parties to a contract to fix a time for performance allow a party to perform at any time?

Area of Law: Business Organizations & Contracts
Keywords: Contract; Time for Performance
Jurisdiction: Federal
Cited Cases: None
Cited Statutes: Restatement (Second) of Contracts § 204
Date: 03/01/2007

The fixing of no definite time for performance does not mean a party may act at any time. See ContiMortgage Corp. v. Mortgage Am., Inc., 47 F. Supp. 2d 575, 577 (E.D. Pa. 1999) (the “court explicitly rejected the defendant’s argument that the absence of a time frame permitted defendant to make a demand at any time”).  Rather, when the time for performance is unspecified, “courts will require that the obligation be performed within a reasonable time.”  Id. at 577; Restatement (Second) of Contracts § 204. 

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