Commentary

26.2 Time limit to comply with the exercise of an option

BOILERPLATE AND COMMERCIAL CLAUSES vol 4(3)
| Commentary

26.2 Time limit to comply with the exercise of an option

| Commentary

26.2 Time limit to comply with the exercise of an option

It is necessary to comply strictly with a date specified for the exercise of an option1. Otherwise, the option will lapse unless the agreement provides explicitly or by implication that the option is to be exercised in a reasonable time2.

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial