Time provisions in contracts are Select one: a. Always interpreted strictly. For

Question

Time provisions in contracts are Select one: a. Always interpreted strictly. For example, if the contract says, "delivery is to be on June 1" then delivery must be on that day or a breach will occur. Ob. Are usually interpreted to mean "on or about" the specified date. O c. Will be interpreted strictly only if the performing party knows of facts that would lead a reasonable person to conclude that late delivery would not be acceptable. d. Will be interpreted strictly only if the contract states clearly "Time is of the essence of this contract". e. Will be interpreted strictly only if the contract clearly states that late performance will not be accepted or uses other language to clearly convey a similar idea for the performing party.

Explanation / Answer

The answer is given below:

d. Will be interpreted strictly only if the contract states clearly" Time is of the essence of this contract".

The time of essence of the contract means when the receiving party makes a point that time is very important for contract.

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