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

1Guyer v. Warren, 175 111. 328, 51 N. E. 580. .

2Duchemin v. Kendall, 149 Mass. 171, 3 L. R. A. 784, 21 N. E. 242.

3 Elizabeth City Cotton Mills v. Dunstan, 121 N. Car. 12, 61 Am. St. Rep. 654, 27 S. E. 1001.

4Vandegrift v. Engineering Co., 161 N. Y. 435, 55 N. E. 941, 48 L. R. A. 685.

5 Larson v. Cook, 85 Wis. 564, 55 N. W. 703.

6 Michael v. Foil, 100 N. Car. 178, 6 Am. St. Rep. 577, 6 S. E. 264.

7Dingley v. Oler, 117 U. S. 490, 29 L. ed. 984.

8 Hammett v. Brown, 44 S. Car. 397, 22 S. E. 482.

1 Bowen v. Julius, 141 Ind. 310, 40 N. E. 700.

2 Bowen v. Julius, 141 Ind. 310, 40 N. E. 700; Moore v. Kime, 43 Neb. 517, 61 N. W. 736.