Contracts
What does 'time is of the essence' mean in a Missouri real estate contract?
ADeadlines are preferred but not required
BAll contractual deadlines must be strictly observed✓ Correct
CClosing must occur within 30 days
DThe contract expires in 30 days
Explanation
When a contract states 'time is of the essence,' all dates and deadlines are strictly enforceable. Missing a deadline can constitute a material breach of contract.
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