Template:Grace periods and time of essence: Difference between revisions
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===[[Grace period]]s and “the [[Time is of the essence|essence]]”=== | ===[[Grace period]]s and “the [[Time is of the essence|essence]]”=== | ||
We have heard it argued that [[time being of the essence]] might override otherwise carefully negotiated [[grace period]]s. When challenged, the [[counsel]] in question was tongue-tied for a moment, before mumbling something about litigation over the [[Lehman administration]]<ref>As we all know, the [[Lehman]] | We have heard it argued that [[time being of the essence]] might override otherwise carefully negotiated [[grace period]]s. When challenged, the [[counsel]] in question was tongue-tied for a moment, before mumbling something about litigation over the [[Lehman administration]]<ref>As we all know, the [[Lehman administration]] was, in the Harry Potter universe, a [[Horcrux]] and, in our own, charted a new portion of legal [[space-time]] where normal rules of Euclidean geometry do not apply.</ref> but could not, ultimately supply any actual authority for this proposition which, in the [[JC]]’s opinion, is unmitigated tosh. [[Time being of the essence]] means, more than anywhere, that one should assume the parties meant what precisely what they said. Here, one should pay exact attention to the time limits prescribed by a {{t|contract}} — including the [[grace period]]s so [[tedious]]ly injected into it — not ignore them. <br> |