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The parties intended time to be of the essence for a contractual promise. The promisor has not…

When time is essential, failure to perform in time makes the contract, or its unperformed part, voidable at the promisee’s option under section 55.

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The parties intended time to be of the essence for a contractual promise. The promisor has not performed it by the specified time. What consequence does section 55 of the Indian Contract Act, 1872 prescribe?

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Answer and explanation

Correct answer D

When time is essential, failure to perform in time makes the contract, or its unperformed part, voidable at the promisee’s option under section 55.

Option feedback

Option A

Section 55 gives the election to the promisee. The defaulting promisor has no such election under the section.

Option B

The statute makes the contract or its unperformed part voidable rather than automatically void.

Option C

The promisee may elect to avoid it, subject to the statutory rule.

Option D

The section grants the promisee the option to avoid the contract or so much of it as has not been performed.

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