Montana Code 28-1-502. How right of selection lost
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28-1-502. How right of selection lost. If the party having the right of selection between alternative acts does not give notice of the selection to the other party within the time, if any, fixed by the obligation for that purpose or, if a time is not fixed, before the time at which the obligation ought to be performed, the right of selection passes to the other party.
Terms Used In Montana Code 28-1-502
- 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.