Contracts
In Kansas, what is the effect of a 'time is of the essence' clause in a real estate contract?
AIt allows either party to extend deadlines freely
BIt makes all specified dates and deadlines mandatory and strictly enforceable✓ Correct
CIt only applies to the closing date
DIt allows the seller to cancel if the buyer is one day late
Explanation
When a contract contains a 'time is of the essence' clause, all dates and deadlines become strictly enforceable. Missing a deadline without agreement to extend can constitute a material breach.
Related Kansas Contracts Questions
- In Kansas, a real estate contract executed by a person who has been declared legally incompetent by a court is:
- A Kansas buyer submits an offer below the list price. This is best described as:
- What is the purpose of a title contingency in a Kansas purchase agreement?
- A Kansas purchase agreement requires the seller to convey 'marketable title.' This means title that is:
- In Kansas, an 'as-is' sale does NOT relieve the seller from the obligation to:
- In Kansas, 'time of the essence' language can make which contract event a potential breach?
- A Kansas purchase agreement clause that says 'buyer accepts the property in its present physical condition' is:
- In Kansas, a purchase agreement that includes a 'right of first refusal' clause gives the holder:
Practice More Kansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kansas Quiz →