There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 56: Commercial Instruments and Transactions
Article 5: Miscellaneous Provisions Relating to Commercial Instruments, 56-5-1 through 56-5-5
Section 56-5-3: Contracts not specifying time of performance; demand necessary.
NM Stat § 56-5-3 (1996 through 1st Sess 50th Legis) What's This?
56-5-3. Contracts not specifying time of performance; demand necessary.
Except as provided in the Uniform Commercial Code [Chapter 55, NMSA 1978], no contract for labor, or for the payment or delivery of property in which the time of performance is not fixed, can be converted into a money demand until a demand of performance has been made and the maker refuses or a reasonable time is allowed for performance.
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