Question

In contract of sale of immovable properties, time is ______.

• A. Not presumed to be essence of the contract
• B. Presumed to be the essence of the contract
• C. No presumption as to time be raised
• D. All of the above

Answer 1

The correct option is A Not presumed to be essence of the contract

Section 55 of Indian Contract Law, 1872 states that, "When a party to a contract promises to do a certain thing at or before a specified time, or certain things at or before specified times, and fails to do any such thing at or before the specified time, the contract, or so much of it as has not been performed, becomes voidable at the option of the promisee, if the intention of the parties was that time should be of the essence of the contract.”

In case of immovable properties, time is not an essence in the contract of sale but should be done in a reasonable time for their own benefit.