Question

Suppose the time fixed for performance of the contract has expired but the time is not the essence of the contract. What is the remedy of the promisee in these circumstances?

Answer 1

Under section 55 of the Indian Contract Act, 1872, if it was not the intention of the parties that time should be of the essence of the contract, the contract does not become voidable by the failure to do such thing at or before the specified time; but the promisee can ask for compensation from the promiser for the loss incurred to him due to such failure.