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JulijaS [17]
3 years ago
6

Ted and Aisha enter into a contract that states that Aisha will buy Ted's vintage sports car after Ted replaces the engine and f

ixes the transmission. The contract contains a "time is of the essence" clause, requiring Ted to have the car ready for the sale by February 13. On February 12, Ted calls Aisha and says he needs two more days to complete the repairs. Aisha declines and buys another car. Did Aisha breach the contract?
Social Studies
1 answer:
Aloiza [94]3 years ago
4 0

Answer:

The correct answer is  NO.

Explanation:

A Time Is of the Essence Clause (TOE) is a parameter stated in a contract specifying that certain time or date is vital. In other words, a TOE says <em>“the times and dates specified in this agreement are vital and mandatory to the contract”</em>

In the example, both Ted and Aisha agreed on a TOE clause that requested Ted to have his vehicle ready for use by February 13. One day before that, Ted communicates Aisha that he was not going to be able to have the repairs ready on time so it was up to Aisha to give him more time to finish the job or decline. Eventually, she didn't accept it.

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