Commentary

56.2 Whether time is of the essence

BOILERPLATE AND COMMERCIAL CLAUSES vol 4(3)
| Commentary

56.2 Whether time is of the essence

| Commentary

56.2 Whether time is of the essence

  1. (a)

        Non-mercantile contracts: For non-mercantile contracts, the general position is that time will not be of the essence except where1:

    1. (i)

          the parties expressly stipulate that it is necessary to comply strictly with conditions as to time;

    2. (ii)

          the nature of the subject matter of the contract or the surrounding circumstances indicate that time must be of the essence (and would be the intention of the parties); or

    3. (iii)

          after an unreasonable delay, a party gives notice to the party in breach and the notice makes time of the essence.

  2. (b)

        Mercantile

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