In commercial transactions, time is considered to be of the essence of – McqOptions

MCQOPTIONS

1.	In commercial transactions, time is considered to be of the essence of contract, and if the party fails to perform the contract within specified time, the contract becomes
A.	Voidable at the option of the other party
B.	Void and cannot be enforced
C.	Illegal for non compliance of legal terms
D.	Enforceable in higher court only
Answer» B. Void and cannot be enforced

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