ContractsGeneralMEDIUM
The 'time is of the essence' contract clause in real estate contracts generally has to do with what?
Correct Answer
C) Performance
'Time is of the essence' means deadlines must be met strictly, relating to performance of contract terms.
Answer Options
A
LeaseB
RecordingC
PerformanceD
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Related Topics & Key Terms
Related Topics:
real-estate-contract-essentialscontract-breach-and-remedies
Key Terms:
time is of the essencecontract performancematerial breachNew York real estate contractsclosing deadline
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