Buying Commercial Property · glossary

Time of the essence

Words that make a deadline strict, so being late at all lets the other side end the contract. Under this contract time is not of the essence of the completion date, but it is of the essence of a notice to complete. Contract 10.2 · Chapter 7 · see Notice to complete

Explained in Chapter 7, The Sale Contract, of Buying Commercial Property.

Also explained in Commercial Leases.

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