Contracts
A buyer who wants to purchase a property quickly may include a 'time is of the essence' clause to ensure:
AThe seller must accept within 24 hours
BAll deadlines in the contract are strictly enforced and not subject to casual extension✓ Correct
CThe closing must occur within 30 days in Tennessee
DThe seller cannot list the property with another broker
Explanation
'Time is of the essence' makes all contract dates strictly enforceable — missing a deadline by even one day can constitute a breach. This protects parties who need certainty about performance timelines.
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