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4 Cards in this Set
- Front
- Back
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No time for performance stated
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Reasonable time from contract date - based on exact set of facts
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What if exact time is stated
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at law - Time is deemed "of the essence"
at equity (specific performance) - time is not of the essence |
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How do you make time essential?
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1. express statement - write "time is of the essence" into the K
2. Surrounding facts and circumstances 3. Nature of property and stability of the market. |
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Equitable considerations v. Express statements
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No amount of equitable considerations can overcome an express statement that time is of the evidence.
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