The effects of delay in compliance with commercial obligations shall begin:
(1) In contracts in which a day is fixed for compliance therewith by the will of the parties or by law, on the day following the one on which they fall due.
(2) In contracts in which no such day is fixed, from the day on which the creditor legally makes demand upon the debtor or notifies him of the declaration of loss and damage made against him before a justice, notary, or other public official authorized to admit the same.
History —Commerce Code, 1932, § 94.