If no time for performance is fixed by the contract, the implication is that a reasonable time for performance is intended.1

6 Houston, etc., Ry. v. Keller, 90 Tex. 214; 37 S. W. 1062.

7 Te Poel v. Shutt, 57 Neb. 592; 78 N. W. 288.

8 Oconto Co. v. Lundquist, 119 Mich. 264; 77 N. W. 950.

9 The Harbinger, 50 Fed. 941; Ingram v. Wackernagel, 83 Ia. 82; 48 N. W. 998.

10 Doyle v. Bank, 131 Ala. 294; 90 Am. St. Rep. 41; 30 So. 880.

11 Doyle v. Bank, 131 Ala. 294; 90 Am. St. Rep. 41; 30 So. 880.

12 Poole v. Plush Co., 171 Mass. 49; 50 N. E. 451; Ryberg v. Good-now, 59 Minn. 413; 61 N. W. 455.

13 Poole v. Plush Co., 171 Mass. 49; 50 N. E. 451.

1 McFadden v. Henderson, 128 Ala. 221; 29 So. 640; Griffin v. Ogletree, 114 Ala. 343; 21 So. 488; Comer v. Way, 107 Ala. 300; 54 Am. St. Rep. 93; 19 So. 966; Bryant v. Ry., 119 Ga. 607; 46 S. E. 829; Atchison, etc., R. R. v. Bur-lingame Township, 36 Kan. 628; 59

If performance is made within such reasonable time, no default exists; nor can default exist until a reasonable time has elapsed.2 Refusal to perform for such time in the future as is not reasonable prevents the objection that the time within which performance was requested was not reasonable.3 On the other hand, failure to perform within a reasonable time constitutes a breach.4 Performance of such a contract after a reasonable time is unavailing if the adversary party has not consented to an extension of time.5 The principle that a reasonable time is implied if no time is fixed applies to contracts for the sale of land,6 or of personalty,7 as a contract to assign a patent,8 to building contracts,9 to contracts for work and labor, hauling logs,10 or driving logs,11 or procuring a loan,12 or effecting a sale of real estate,13 or to furnish a vessel and deliver lumber,1* or to cut and remove timber,15 or to forbear a legal right,16 as enforcing a lien.17 So an option, the time for the exercise of which is not fixed, must be exercised in a reasonable time.18 So a contract to repurchase stock at the end of a given time if the vendee holds it then and wishes to sell it, has been held to give the vendee a reasonable time after the end of such period to make his election.19 The purchaser of realty has ordinarily a reasonable time to examine the abstract of title before paying the purchase price.20 So a contract to furnish capital as needed gives a reasonable time after notice that it is needed to furnish it.21 So a contract to submit a cause to the judge at the next term of court, a jury to be waived and no appeal or error to be taken, requires that the complaint should be filed in time to allow a reasonable time to file an answer.22 A contract which provides for a test after delivery of the article sold, and before final acceptance, gives a reasonable time for making such test.23 In some cases a time other than merely a reasonable time is implied from the terms of the contract. A contract for the loan of money without provision for the time of repayment implies repayment on demand.24 A continuous contract of employment, no time of duration being fixed, is terminable at the will of either party.25 This principle applies

Am. Rep. 578; 14 Pac. 271; Howe v. Taggart, 133 Mass. 284; Calkins v. Chandler, 36 Mich. 320; 24 Am. Rep. 593; Van Arsdale v. Brown, 18 Ohio C. C. 52; 9 Ohio C. D. 488; Gammon v. Bunnell, 22 Utah 421; 64 Pac. 958; Dennis v. Stoughton, 55 Vt. 376; Poling v. Lumber Co., _ W. Va. - ; 47 S. E. 279.

2 Bell v. Mendenhall, 78 Minn. 57; 80 N. W. 843.

3 Reynolds v. Reynolds, 74 Vt. 463; 52 Atl. 1036.

4 Hume v. Mullins (Ky.), 35 S. W. 551; Gainor v. Boom Co., 86 Mich. 112; 48 N. W. 787; Lynd v. Printing Co., 20 R. I. 344; 39 Atl. 188.

5 Meader v. Allen, 110 Ia. 588; 81 N. W. 799.

6 Noyes v. Barnard, 63 Fed. 782; Michael v. Foil, 100 N. C. 178; 6 Am. St. Rep. 577; 6 S. E. 264; Williamson v. Neeves, 94 Wis. 656; 69 N. W. 806.

7 Watkins v. Morris. 16 Mont. 309; 40 Pac. 600; Smith v. Machine Co., 46 S. C. 511; 24 S. E. 376; Boyce v. Timpe (Ia.), 89 N. W. 83.

8 Niles v. Graham, 181 Mass. 41; 62 N. E. 986.

9 House. Lane v. Hardware Co., 121 Ala. 296; 25 So. 809; Brodek V. Farnum, 11 Wash. 565; 40 Pac. 189. Steam plant. North v. Mal-lory, 94 Md. 305; 51 Atl. 89; Electric-lighting plant. Florence, etc., Co. v. Hanby, 101 Ala. 15; 13 So. 343. Flouring-mill. Van Stone v. Mfg. Co., 142 U. S. 128.

10 Griffin v. Ogletree, 114 Ala. 343; 21 So. 488; Greenwood v. Davis, 106 Mich. 230; 64 N. W. 26.

11 Bonifay v. Hassell, 100 Ala. 269; 14 So. 46; Gainor v. Boom Co., 86 Mich. 112; 48 N. W. 787; Day v. Gravel, 72 Minn. 159; 75 N. W. 1.

12 Collier v. Weyman, 114 Ga. 944; 41 S. E. 50.

13 Boyd v. Watson, 101 Ia. 214; 70 N. W. 120. Contra, that such a contract is revocable at the will of the owner of the realty. Woods v. Hart, 50 Neb. 497; 70 N. W. 53.

14 Whiting v. Cray, 27 Fla. 482; 11 L. R. A. 526; 8 So. 726.

15 Ferguson v. Arthur, 128 Mich. 297; 87 N. W. 259.

16 Moore v. McKenney, 83 Me. 80; 21 Atl. 749.

17 Anderson v. Wainwright, 67 Ark. 62; 53 S. W. 566. (An agreement to refrain from sale, and collect the debt out of the rents.)

18 Catlin v. Green, 120 N. Y. 441; 24 N. E. 941.

19 Maurer v. King, 127 Cal. 114; 59 Pac. 290; La Dow v. Bement, 119 Mich. 685; 45 L. R. A. 479; 79 N. W. 1048.

20 Pennsylvania Mining Co. v. Thomas, 204 Pa. St. 325; 54 Atl. 101.

21 Niles v. Graham, 181 Mass. 41; 62 N. E. 986.

22 Pendleton v. Light Co., 121 N. C. 20; 27 S. E. 1003. (The complaint was offered for filing in this case on the last day of the term when the judge was about to leave the bench.)

23 Edison, etc., Co. v. Navigation Co., 8 Wash. 370; 40 Am. St. Rep. 910; 24 L. R. A. 315; 36 Pac. 260: see also Turner v. Foundry Co., 97 Mich. 166, 634; 56 N. W. 356; 57 N. W. 192.

24 Jacoby v. Jacoby, 103 Fed. 473.

25 De Briar v. Minturn, 1 Cal. 450; Greer v. Mfg. Co., 1 Penn (Del.) 581; 43 Atl. 609; Louisville & N. R. Co. v. Offutt, 99 Ky. 427; 59 Am. St. Rep. 467; 36 S. W. 181; McCullough Iron Co. v. Carpenter, even if the compensation is fixed at a certain sum per year.26 However, a contract by A to employ B as long as A is engaged in the saw-mill business on the Ohio River does not give to A the right to discharge B at will.27