North Dakota Code 9-01-18 – Option – Limitation of time for performance
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If the party having the right of selection between alternative acts does not give notice of that party’s selection to the other party within the time, if any, fixed by the obligation for that purpose, or, if none is fixed, before the time at which the obligation ought to be performed, the right of selection passes to the other party.
Terms Used In North Dakota Code 9-01-18
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.