Contracts
In a Kansas real estate contract, the term 'time is of the essence' means:
AThe contract must be signed quickly
BAll deadlines in the contract are strictly binding✓ Correct
CThe seller must accept the offer immediately
DThe closing must occur in fewer than 30 days
Explanation
'Time is of the essence' means all specified dates and deadlines in the contract are strictly binding, and failure to meet them can constitute a material breach.
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