Kitten Inc was contractually obliged to pay $5000 to Mavitten Ltd on June 1,but failed to do so.It is now June 3.Assuming that general contractual rules apply,which of the following statements is TRUE?
A) Kitten has committed a serious breach of contract because time is of the essence.
B) Mavitten is entitled to discharge the contract for breach.
C) Kitten has breached a condition subsequent by failing to pay even after the scheduled date for payment has passed.
D) As a result of Kitten's behaviour,the terms of the contract have been varied.
E) Mavitten cannot discharge the contract unless it notified Kitten that the time of payment is a contractual condition and time is of the essence.
Correct Answer:
Verified
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