The Phrase "Time Is of the Essence" Means

question 67

Multiple Choice

The phrase "time is of the essence" means

• A) that the broker must present the offer quickly.
• B) that the transaction must close as soon as possible.
• C) that punctual performance of the time limits set by the contract is essential.
• D) little, since the phrase has no specific meaning.

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Definitions:

Social Responsibility Programs

Initiatives undertaken by companies to operate in an ethical, sustainable, and environmentally friendly manner, often focusing on social welfare.

Company's Mission

A statement that describes the purpose and fundamental objectives of an organization, guiding its strategy, operations, and decision-making.

Social Expectations

The anticipated norms and behaviors society believes individuals should conform to in various situations.

Ethically and Responsibly

Acting in a manner that is morally right and in accordance with good conduct, especially in business practices.