In contracts for the sale of land, if a party fails to complete performance within the fixed time,…

In equity, time is generally not of the essence in contracts for the sale of land unless the parties make it so, and the court allows a reasonable time to complete after the fixed date. Section 41 of the Law of Property Act, 1925 applies the same rules at law, and section 55 of the Indian Contract Act, 1872 provides that where time is not essential the contract "does not become voidable" by the failure to perform on time. Essentiality may also follow from the contract nature and circumstances; a reasonable-time allowance is not automatic where time is essential.