It is said that 'time is of essence' when:
A) the promisor refuses to fulfill the promised act in time.
B) the delay in time taken to fulfill the act results in financial loss to the promisor.
C) the promisee refuses to owe the promisor the value of the assignment.
D) an event terminates an existing duty of performance.
E) the promisee is affected by whether the promisor acts on time or not.
Correct Answer:
Verified
Q26: Mary is obligated to deliver a parcel
Q27: Upon Wally's graduation from college, his father
Q28: When a promisor announces before the time
Q29: When an obligor is discharged upon delivery
Q30: The Uniform Commercial Code does not recognize
Q32: _ is said to exist when there
Q33: _ comes into play when circumstances make
Q34: Which of the following represents an express
Q35: A concurrent condition arises when:
A) it terminates
Q36: A "time is of the essence" clause
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents