If time is not of the essence, a party has a reasonable period of time after a date specified in a contract to perform.

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Quizplus · Accepted Answer

This principle is known as the "reasonable time" doctrine and allows a party to perform within a reasonable period of time after a specified date, as long as time is not expressly stated to be of the essence in the contract. However, what constitutes a "reasonable period of time" may vary depending on the circumstances of each case.

If Time Is Not of the Essence, a Party Has