B-137634, DECEMBER 18, 1958, 38 COMP. GEN. 445

CONSTITUTES A TIMELY ACCEPTANCE AND RESULTS IN A VALID AND BINDING CONTRACT UNDER THE WELL-ESTABLISHED COMMON LAW RULE WHICH PROVIDES THAT WHEN THE LAST DAY OF A PERIOD WITHIN WHICH AN ACT IS TO BE DONE FALLS ON A SUNDAY. THAT DAY IS EXCLUDED FROM THE TIME COMPUTATION AND THE ACT MAY RIGHTFULLY BE DONE ON THE FOLLOWING SECULAR OR BUSINESS DAY. 1958: REFERENCE IS MADE TO YOUR LETTER OF OCTOBER 18. THAT YOU ARE NOT IN A POSITION TO RESPOND TO THE BANK'S REQUEST FOR PAYMENT OF THE LOAN. THAT IF YOU ARE FORCED TO ACCEPT THE MATERIAL OR TO FORFEIT THE DEPOSIT IT WILL RESULT IN BANKRUPTCY FOR YOUR BUSINESS. AT THE OUTSET IT MAY BE SAID THAT WHILE WE ARE NOT UNSYMPATHETIC TO YOUR FINANCIAL POSITION OUR DECISION AS TO YOUR RIGHT TO REFUND OF YOUR BID DEPOSIT MUST BE BASED SOLELY ON LEGAL GROUNDS.