Jenkins v. Marsh

Limitation of Actions—Agreement to Repurchase Stock—Delay in Making Demand.—An action to enforce an oral agreement to repurchase corporate stock upon demand is barred by the statute of. limitations if no demand is made until five years after the making -of the contract.

Id.—Demand of Performance—Unnecessary Delay in Making.— Where a party’s right' to sue depends for its perfection solely upon a demand by him to put his adversary in default, he cannot indefinitely and unnecessarily extend the bar of the statute by deferring such demand, but must make it within a reasonable time.

Id.—Reasonable Time for Making Demand—Period of Limitations.— What is deemed a reasonable time is a period coincident with that provided in the statute of limitations for barring the action.