If no time is specified for performance, the implied period is described by which term?

• A. Lapse of Time
• B. Rejection
• C. Renunciation
• D. Time for performance

Answer: (D)

When no deadline for performing a contract is stated, the implied window for performance is described as the time for performance. This term captures the idea that performance should occur within a reasonable, practical period rather than instantly or not at all. Lapse of time would mean an offer or right expires after a set period, not the timing for performing the contract. Rejection and renunciation describe refusal or giving up a right, not the timing of performance. So the described implied period is time for performance.