Contract and Commercial Law Act 2017

Sale of goods - Formation of contract - Conditions and warranties

131: Stipulations about time

You could also call this:

“Time limits in contracts are not always strict unless specified”

When you make a contract to buy or sell something, the agreement might say when you need to pay. Usually, the exact time you pay isn’t the most important part of the deal, unless the contract says it is.

For other things in the contract that have a time limit, whether it’s really important to stick to that time depends on what the contract says.

If the contract talks about a ‘month’, it usually means a regular month on the calendar, like January or February.

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130: Agreement to sell at valuation, or

"Rules for selling when someone else sets the price"


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132: Conditions and warranties, or

"Rules in buying agreements: Important ones and less important ones"

Part 3 Sale of goods
Formation of contract: Conditions and warranties

131Stipulations about time

  1. Stipulations as to the time of payment are not of the essence of a contract of sale, unless a different intention appears from the terms of the contract.

  2. Whether any other stipulation as to time is of the essence of the contract depends on the terms of the contract.

  3. In a contract of sale, month means, on the face of it, calendar month.

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