Effect of failure to perform at fixed time, in contract in which time is essential

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..... ecified times, and fails to do any such thing at or before the specified time, the contract, or so much of it as has not been performed, becomes voidable at the option of the promisee, if the intention of the parties was that time should be of the essence of the contract. Effect of such failure when time is not essential—If it was not the intention of the parties that time should be of the essence .....

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