Contracts
A Maine real estate purchase agreement that lacks a specific closing date is:
AAutomatically void
BStill valid; a reasonable time will be implied✓ Correct
CVoidable by either party
DInvalid only if time is of the essence
Explanation
If a contract lacks a specific closing date, courts will typically imply that closing should occur within a reasonable time. The contract remains valid, though best practice is to specify a date.
Related Maine Contracts Questions
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