Template:Grace periods and time of essence: Difference between revisions

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 grounds, let alone actual authority, for this proposition.<ref>Please write in if you can think of one.</ref> [[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>