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.
Tender is a proffer of performance. When tender is made the creditor has a reasonable time in which to decide whether he will accept it or not,1 unless he rejects the tender without taking such reasonable time. If the party to whom tender is made accepts it in full performance, he is 'ordinarily bound by such acceptance, and cannot subsequently claim that full performance has not been made.2 Thus if a certain sum is paid into court at the beginning of a suit as full tender, the creditor cannot accept it and continue the suit for the rest of his cause of action, even if he protests that more is due when he accepts the money.3 If the party to whom performance is tendered refuses to accept it, the question is then presented whether the tender has been made in proper form, whether the creditor has waived any of his rights to insist on a proper tender, and what are the rights of the parties thereunder.