Where a party to a contract fails to perform at or before a specified time and it was the intention of the parties that time should be of the essence

Related MCQs

• Each party to a contract is bound to perform his part of the obligation. After the parties have made due performance of the contract comes to an end. In such a case the contract is said to be discharged :
• Essence of ……. lies not in the dissimilarity of the terms between the two contracts but in the intention of the parties to supersede the old by the new.
• Where by the contract, a promisor is to perform his promise without application by the promise and no time for performance is specified the engagement must be performed within a reasonable time. The question "What is a reason able time" is in each particular case is a :
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• Under section 11 of the Sale of Goods Act, 1930, the time of payment can be of the essence of the contract —