SC: Merely Having Explicit Clause Not Sufficient to Make Time Essence of The Contract - (15 Nov 2021)

CONTRACT

Supreme Court has observed that merely having an explicit clause may not be sufficient to make time the essence of the contract. The contractual clauses having extension procedure and imposition of liquidated damages, are good indicators that time was not the essence of the contract. The Court added whether time is of the essence in a contract, has to be culled out from the reading of the entire contract as well as the surrounding circumstances.

Tags : SUPREME COURT   TIME ESSENCE OF CONTRACT  

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