Thursday, December 23, 2004

Agreement Drafting – “Time is of the essence” – A Cryptic Phrase?

In Arvilla Motel, Inc. v. Shriver, 29 Fla. L. Weekly D 2728 [Fla. 2nd DCA 2004] the Second District Court of Appeal provides an interesting discussion on what this cryptic stock phrase means in answering the question “What performance at what time is a condition of which party’s duty to do what?” So, having this knowledge [after reading the case, of course], what is the best way to draft a mediation agreement if “Time is of the essence”?

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