Hợp đồng & Thực hiệnCâu 828 / 1605
When a contract states that 'time is of the essence,' it means:
a.The contractor may finish whenever convenient
b.Only the owner is bound by deadlines
c.Timely performance is a material term, and failure to perform on time can be treated as a material breach
d.The completion date is merely a goal with no consequences
Giải thích
A 'time is of the essence' clause makes timely performance a material term of the contract. Missing the agreed deadline is then not a trivial matter but can constitute a material breach entitling the other party to remedies. Without such a clause, reasonable delays are more likely tolerated. The clause binds the performing party to the schedule and signals that dates are essential, not aspirational.
Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A liquidated damages clause in a construction contract is best described as:
- For a liquidated damages clause to be enforceable rather than struck down as a penalty, courts generally require that:
- A contract states, 'Liquidated damages of $500 per day shall apply for each day completion is late beyond the substantial completion date.' If the contractor finishes 10 days late, the owner's presumptive recovery under a valid clause is:
- In the absence of a 'time is of the essence' clause or a specified completion date, a contractor is generally obligated to complete the work:
- A 'force majeure' clause in a construction contract typically addresses:
- Binding arbitration as a method of dispute resolution generally means:
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Sen Lin, Người sáng lập PrepPass · Đối chiếu với California CSLB Contractor License Law & Business Exam · Quy trình kiểm tra
Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)