If the contract fixes a certain time for performance, the party from whom performance is due has no right to perform before that time. Hence, premature tender is ineffectual.1 It does not discharge a mortgage given to secure the debt, payment whereof is thus tendered.2 So if payment is to be made in part in money and in part in an interest-bearing note, premature tender of the entire debt in money is ineffectual.3 So it has been held that if a vendee of stock has the right to rescind at the end of one year, tender of the stock before the end of the year is premature and ineffectual.4