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In which of the following cases, the Supreme Court held that the time was essence of contract:

A.K. Lakshmipathy v Rai Saheb Pannalal concerns a sale agreement whose terms made the stipulated payment date important. The Court read the contract and the parties’…

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In which of the following cases, the Supreme Court held that the time was essence of contract:

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Correct answer A

A.K. Lakshmipathy v Rai Saheb Pannalal concerns a sale agreement whose terms made the stipulated payment date important. The Court read the contract and the parties’ evidence together and rejected the argument that time was not of the essence. The lesson is to examine the contractual intention and terms, rather than assume that time can never be essential in a property transaction.

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