CONTRACT LAW — Time of Performance — Performance Within Reasonable Time Where Contract Silent as to Time
Principle Statement
Where a party undertakes to do an act depending entirely on himself, and the contract is silent as to time, the law implies an engagement that it shall be executed within a reasonable time having regard to all the circumstances.
Ratio Decidendi (Source)
Per Edozie, JSC, in Nigerian Bank for Commerce and Industry v. Integrated Gas (Nigeria) Limited & Anor (2005) NLC-2532000(SC) at p. 21; Paras A–B.
"Where a party to a contract undertakes to do some particular act, the performance of which depends entirely on himself, and the contract is silent as to the time of performance, the law implies an engagement that it shall be executed within a reasonable time having regard to all the circumstances of the case."
Explanation / Scope
Implied term of reasonable time for performance when contract silent. The principle applies to contract law.
