This section is from the book "The Law Of Contracts", by William Herbert Page. Also available from Amazon: Commercial Contracts: A Practical Guide to Deals, Contracts, Agreements and Promises.
Where the offer is to do an act in the future, it may be accepted a reasonable time after it is made;1 and possibly within a reasonable time from the time fixed for doing such act. Thus an offer to buy a foal if it was "a filly, all right and sound at five months old," may be accepted within a reasonable time after it is five months old;2 and an offer made in 1884 to take stock at its cost price "any time after January 1, 1886, if at that time you desire to have me do so," must be accepted in at least a reasonable time after January 1, 1886.3 An offer to do an act if the offeree after the end of six months should wish it to be done, does not lapse until after a reasonable time from the expiration of such period of six months.4 A promise by an officer of a corporation to a stockholder to take his stock and to pay six per cent. interest thereon, if at any time after six months the stockholder wished to sell, is an offer which does not lapse until a reasonable time after the end of such six months' period has expired.6
8 Warner v. Marshall, 166 Ind. 88, 75 N. E. 582; Mactier v. Frith, 6 Wend. (N. Y.) 103.
9 Warner v. Marshall, 166 Ind. 88, 75 K S. 582; Mactier v. Frith, 6 Wend. (N. Y.) 103.
10 Phillips v. Moor, 71 Me. 78.
11 Phillips v. Moor, 71 Me. 78.
12 McGivern v. Parkhill, 195 111. App. 843.
1 Morse v. Bellows, 7 N. H. 549, 28
Am. Dec. 372; Wheaton v. RamPac.ker, 3 Wyom. 441, 26 Ac. 912.
2 Dawley v. Potter, 19 R. I. 372, 36 Atl. 92.
3 Park v. Whitney, 148 Mass. 278, 19 N. E. 161. In Cabot v. Kent, 20 R. I. 197, 37 Atl. 945, it was said that a similar offer must be accepted at the latest on the day specified.
4 Ellis' Administrator v. Durkee, 79 Vt. 341, 65 Atl. 94.