When a contract contains the words time is of the essence, which ...

[haleyc112]

When a contract contains the words time is of the essence, which of the following is true?
 A) Performance must be rendered within a reasonable amount of time.
 B) Performance on the exact date is deemed vital.
 C) Performance must occur within 24 hours of signing the contract.
 D) Performance is not an essential component of the contract.

Question 2

In most bilateral contracts, the performances of the parties are concurrent conditions.
  Indicate whether the statement is true or false

[dajones82]

Answer to Question 1

B

Answer to Question 2

TRUE

[haleyc112]

Thank you

[dajones82]

No problemo