Unless a Contract So Provides, Time Is Ordinarily Not of the Essence

question 43

True/False

Unless a contract so provides, time is ordinarily not of the essence, and performance within a reasonable time is sufficient.

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Definitions:

Transfer Payment

Payments made by governments to individuals or other entities without the government receiving any goods or services in return, such as welfare payments or subsidies.

Social Security Recipients

Individuals who receive benefits from the Social Security Administration, typically due to retirement, disability, or survivorship.

Government Expenditures

The total amount spent by the government on goods, services, and public projects.

State and Local Governments

Governmental authorities below the national level, responsible for local administration and governance within their respective areas.