Time Is Of The Essence Clause - - Posted by Roy_FL

Real Estate Investing Real Estate Law
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Posted by JohnBoy on July 04, 2003 at 18:11:22:

a phrase often used in contracts which in effect says: the specified time and dates in this agreement are vital and thus mandatory, and “we mean it.” Therefore any delay-reasonable or not, slight or not-will be grounds for cancelling the agreement.

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Time Is Of The Essence Clause - - Posted by Roy_FL

Posted by Roy_FL on July 04, 2003 at 15:48:27:

Just wondering if anybody could explain the meaning of the “Time Is Of The Essense” clause and it’s ramifications to you as the buyer or as the seller.

Thanks in advance.