53-10-2. Time of performance of contract not specified–Allowance of reasonable time–Instant action.
If no time is specified for the performance of an act, a reasonable time is allowed. If the act is capable of being done instantly, such as payment of money, it must be performed immediately when due and ascertained.
Source: CivC 1877, §948; CL 1887, §3572; RCivC 1903, §1266; RC 1919, §887; SDC 1939, §10.0107.