Time is of the essence: Difference between revisions

1,210 bytes removed , 13 June 2023

Replaced content with "{{essay|boilerplate|time is of the essence|<br> {{image|Dali Clocks|jpg|}} }} {{sa}} *Law of Property Act 1925 *Fundamental breach (aka repudiatory breach) or {{t|contract}} *Waiver and estoppel {{ref}}"

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-{{boileranat|time is of the essence|<br>
+{{essay|boilerplate|time is of the essence|<br>
-[[File:Dali Clocks.jpg|450px|frameless|center]]}}{{time is of the essence capsule}}
+{{image|Dali Clocks|jpg|}} }}
-Thanks to the [[Law of Property Act 1925]], Section 41, the rules at equity now apply in contract as well. [[Eheu]].
+{{sa}}
-{{grace periods and time of essence}}
-=== Time being not of the essence and rent review ===
-We rarely foray into commercial leases, folks, but you may see written the rent review section of a commercial lease that time is not of the essence. These contracts written to protect the landlord, as they inevitably are, you may puzzle at this. This is to give the landlord the excuse to retrospectively increase rent if it neglects to at the earliest opportunity. It permits the landlord to backdate the increase, on the argument that, “well, time wasn’t of  the essence, so I didn’t bother to set the new rent at the time, and am doing it now.” Commercial tenants are warned to be proactive about re-setting rentals, therefore, to deprive the landlord of such optionality.
-This strikes the JC as crappy behaviour, all the same. If you don’t reset the rent at the time — or at least try to — then the rent delta for that missing period it ought to be your loss, and indeed would be on ordinary principles of waiver. Your increase would take effect prospectively.{{sa}}
 *[[Law of Property Act 1925]]
 *[[Fundamental breach]] (aka [[repudiatory breach]]) or {{t|contract}}
+*[[Waiver]] and [[estoppel]]
 {{ref}}

Time is of the essence: Difference between revisions

Time is of the essence (view source)

Revision as of 10:39, 13 June 2023