Contracts
In Kansas, a 'time of essence' deadline in a real estate contract that is missed:
AAutomatically extends for an additional 30 days
BMay constitute a material breach allowing the non-defaulting party to terminate the contract✓ Correct
CRequires KREC mediation before termination
DHas no legal effect unless acknowledged by both parties
Explanation
When 'time is of the essence,' missing a deadline can constitute a material breach, potentially allowing the non-breaching party to declare the contract terminated and seek applicable remedies.
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