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Under the Indian Contract Act, 1872, if the time of performance of the contract is the essence of the…

Section 55 of the Indian Contract Act makes the unperformed contract or part voidable at the promisee's option when time is essential and performance is late. The promisee…

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Under the Indian Contract Act, 1872, if the time of performance of the contract is the essence of the contract and the promisor fails to perform the contract by the specified time

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Correct answer D

Section 55 of the Indian Contract Act makes the unperformed contract or part voidable at the promisee's option when time is essential and performance is late. The promisee may choose to affirm it. If time is not essential, lateness alone does not make it voidable, but loss caused by delay may be compensated, subject to the section's acceptance-and-notice rule.

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