California CodesCivil Code - CIVDivision 3 — ObligationsPart 1 — Obligations in GeneralTitle 4 — Extinction of ObligationsChapter 2 — Offer of PerformanceSection 1503
The person offering a thing, other than money, by way of performance, must, if he means to treat it as belonging to the creditor, retain it as a depositary for hire, until the creditor accepts it, or until he has given reasonable notice to the creditor that he will retain it no longer, and, if with reasonable diligence he can find a suitable depositary therefor, until he has deposited it with such person.
Notes
Requires a person offering a nonmoney thing as performance, when treating it as the creditor’s property, to retain it as a depositary for hire until acceptance or reasonable notice of discontinued retention. If a suitable depositary can be found with reasonable diligence, retention continues until the thing is deposited with that person.
Use as reference
Lexinter.net | California Code, Civil Code - CIV § 1503 | https://laws.lexinter.net/codes/california/civil-code/division-3/part-1/title-4/chapter-2/section-1503