Under the Indian Contract Act, 1872, the parties intend time to be of the essence. If the promisor…
The first paragraph of section 55 makes the contract, or so much of it as has not been performed, voidable at the promisee’s option when the parties intended the deadline to…
Choose your answer
Under the Indian Contract Act, 1872, the parties intend time to be of the essence. If the promisor fails to perform by the agreed deadline, what is the immediate legal effect on the contract or its unperformed part?
Answer and explanation
Correct answer C
The first paragraph of section 55 makes the contract, or so much of it as has not been performed, voidable at the promisee’s option when the parties intended the deadline to be essential.
The promisee may elect whether to avoid the affected contract or part.
Option feedback
Option A
Avoidance depends on the promisee’s election.
Option B
Section 55 gives the promisee an election when an essential deadline is missed.
Option C
Section 55 gives the promisee this election for the contract or its unperformed part.
Option D
The missed deadline gives an option to avoid the contract and does not automatically bar enforcement.
Option E
Voidability at the promisee’s option is expressly provided.
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