Section 496
Obligation To Be Fulfilled Within The Prescribed Time
(1) If a
certain period has been specified for fulfilling any obligation, the
concerned person shall fulfill such an obligation within that period.
(2) If a certain day or time has been specified for fulfilling
any obligation, the concerned person shall fulfill such obligation on
that day or at that time.
Provided that if there is a stipulation that the obligation shall
be fulfilled within certain day or time, the obligation may be
fulfilled even prior to such day or time.
(3) If no period, day or time has been specified under subsection
(1) or (2), the period, day or time for fulfilling the
obligation shall be determined having regard to the nature of
obligation and the obligation shall be fulfilled within a reasonable
period.
(4) If any obligation is not fulfilled pursuant to sub-section
(1), (2) or (3), the person who is bound to fulfill the obligation shall
be deemed to have not been fulfilled, or to have been unable to
fulfill, the obligation.