184. Length of notice required for payment.

184.     Length of notice required for payment.

At common law, a covenant to pay the principal money immediately on demand1 or immediately after notice implies such reasonable time as would allow the mortgagor to implement the mechanics of payment but not to raise the money if it is not available2. If the demand is by a person representing himself to be the mortgagee's agent, the mortgagor is entitled to have time to inquire into the truth of the alleged agency3. If the loan is made by a lender acting for purposes relating to his