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Deadlines

2 Posts
1 Sections
1 Types

January 1, 1 7 min read Definitions

Grace Period Deadlines Default Forbearance Real Estate Rent Payments Mortgage Payments

A grace period is a set duration of time after a deadline during which a borrower or debtor can perform an obligation without facing any penalties or being considered in default.

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January 1, 1 6 min read Definitions

Time Is of the Essence

Contract Law Real Estate Sales Contract Deadlines Timeliness Legal Terms Closing Date Real Estate Transactions

The phrase 'Time Is of the Essence' in a contract requires that all time-related provisions must be strictly adhered to, emphasizing that any delays could be a breach of contract.

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