In last week’s article I mentioned that the time for completion in a contract for sale of land is not usually of the essence, and that a failure to complete on the date set out in the contract does not entitle the innocent party to withdraw from the contract.
However if it is expressly stated in the contract that time is of the essence, then the date for completion must be strictly observed and a failure to complete by the completion date entitles the innocent party to withdraw from the contract if there is a delay in completion.
In a contract for the sale of land time will be of the essence if:
(a) the contract has a clause
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