Contracts
A NH buyer's offer states 'closing on or before June 30.' If the buyer cannot close by that date:
AThe contract automatically extends one more month
BThe buyer may be in breach if the contract includes a time-is-of-the-essence clause✓ Correct
CThe seller must agree to extend the closing
DThe broker must mediate the date extension
Explanation
If the contract includes a time-is-of-the-essence clause, the June 30 deadline is strictly enforced. Failure to close by that date would constitute a material breach by the buyer.
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