Law:

Section:

(a) Contract Act (IX of 1872)-------S. 55---Time as the essence of contract---Plea that time was of the essence of contract---Scope---Such plea could be taken by a party, who was in a position 'to perform his obligation within time fixed under contract---Such plea could not be taken by a party, who himself had failed to complete documentation necessary for registration of conveyance deed within stipulated time. (b) Specific Relief Act (I of 1877)--- ----S. 12---Transfer of Property Act (IV of 1882), S.54---Contract Act (IX of 1872), S.55---Suit for specific performance of agreement of sale of immovable property---Time fixed in agreement for execution of sale-deed was extended twice by parties with mutual consent---Failure of defendant to complete within extended periods documentation requisite for registration of sale-deed---Issuance of notice by plaintiff showing his readiness/willingness to complete transaction and calling upon defendant to perform his part of agreement---Refusal of defendant to execute sale-deed on the ground that time fixed for performance being the essence of contract had expired---Validity---Nothing was stipulated' in the agreement that time was of the essence of contract---Agreement did not mention that upon expiry of time fixed therein; contract would automatically come to an end---Mere fixing time for performance of an agreement could not be construed as making time the essence of contract---Time was never intended to be made the essence of contract---Defendant on such plea could not avoid and put an end to agreement---Suit was decreed in circumstances. (c) Transfer of Property Act (IV of 1882)--- ----S. 54---Contract Act (IX of 1872), S.55--Sale of immovable property, agreement for---Time fixed in agreement for execution of sale-deed---Failure of seller to complete documentation requisite for execution of sale-deed before Sub-Registrar---Effect---Unless such documentation was complete, the agreement would continue to remain enforceable at buyer's option, irrespective of the fact whether the time was of the essence of contract or not, provided buyer at all material times had shown his readiness/willingness to complete his part of…

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