The Sale of Goods Act, 1930
Formation of the Contract
Conditions and Waranties
Section 11: Stipulations as to time.
11. Unless a different intention appears from the terms of the contract, stipulations as to time of payment arc not deemed to be of the essence of a contract of sale. Whether any other Stipulation as to time is of the essence of the contract or not depends on the terms of the contract.
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