I believe they are based in natural law and contract law as codified in the Book of Genesis. For example the error of interpreting that God would demand Abram execute his only son as a human blood sacrifice at all, not just that God would show mercy. You might debate my interpretation but I will not defend it. I just see mathematical models of contract law there, and sorrow that we (Western Judeo-Christianity) has created such a bloodthirsty monster out of such a beautiful precept as a loving, Creator-God.

However this natural response time, reasonable, is recited in the UCC where I picked it up so long ago that I could not recite where or even be surprised if it has been removed.

You should respond to a Presentment within 72 hours of it coming to your attention and notice. The presenter is expected because of three-day weekends, having to contact family and attorney, spouses etc. for council about your decision to allow a full ten days. That is how I understand it.