A buyer has not completed on the contractual completion date. The seller wants to put the buyer on notice and set a final date. What does the Standard Conditions of Sale provide?
Answer and explanation
Correct answer: D. Either party may serve a notice to complete making time of the essence
- Step 1: Condition 6.8 of the Standard Conditions provides for a notice to complete.
- Step 2: It makes time of the essence for completion after the period.
Answer
Either party may serve a notice to complete making time of the essence.
Why not the others: 24 hours and six months are not the period; a court order is not required; the period is ten working days.
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