A buyer who has a 'time of the essence' clause in a contract is under no obligation to respond to a Nachfrist notice and may immediately avoid the contract.

Question

Quizplus · Accepted Answer

A 'time of the essence' clause means that time is a crucial component of the contract and that any delay in performance is considered a material breach. However, it does not automatically give the buyer the right to immediately avoid the contract without consequences. If the seller sends a Nachfrist notice, it gives the buyer a last chance to perform their obligations before the contract is avoided. If the buyer still fails to perform within the Nachfrist period, then they can avoid the contract without liability.

A Buyer Who Has a 'Time of the Essence' Clause