When a Contract Contains the Words "Time Is of the Essence

question 15

Multiple Choice

When a contract contains the words "time is of the essence," which of the following is true?  ​

• A)Performance must be rendered within a reasonable amount of time.
• B)Performance on the exact date is deemed vital.
• C)Performance must occur within 24 hours of signing the contract.
• D)Performance is not an essential component of the contract.

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