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Part III Particular Contractual Provisions, 25 Time Stipulations

From: McMeel on The Construction of Contracts (3rd Edition)

Gerard McMeel

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 14 August 2022

Interpretation of contract — Time of delivery — Contractual stipulation and time for payment

This chapter examines contractual timetables, which are a significant source of disputes. The rules here involve issues of performance, breach, and remedies. The question whether or not time is of the essence moreover lies at the heart of this topic. In the modern law this generally equates to the question whether as a matter of construction or characterization a particular (time) stipulation is a condition or fundamental term, such as to justify termination by the other party in the event of breach. In addition, a distinct power exists where time is not initially of the essence (or it is unclear whether it is) for a party to serve post-contractual notice in appropriate cases of unreasonable delay, making time of performance of the essence, which does not depend on construction or characterization techniques.

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