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Purchase Contract Properly Converted to a “Time Is of the Essence” Contract

In affirming the judgment awarded plaintiff in this breach of contract action, the Third Department noted that a “non time of the essence” real estate purchase contract can be converted to a “time of the essence” contract by giving the buyer clear, unequivocal notice and a reasonable time to perform, as was done by the seller here. 12 Baker Hill Rd., Inc. v Miranti, 2015 NY Slip Op 06400, 3rd Dept 7-30-15

 

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