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37. Can the buyer still enforce the contract?
On the rescheduled closing date, the buyer was in a car accident on the way to the closing and was hospitalized for a month. When the buyer was released from the hospital, he told the seller and her attorney that he was now ready to close. They responded that the buyer had breached the contract and that there would be no closing.
Twenty days later, the buyer asked the seller if the closing could be postponed for 15 days beyond the scheduled closing date. The seller authorized her attorney to email the buyer saying that the closing date would be extended for 15 days but that «time is now of the essence.» The buyer emailed back that the change was reasonable and thanked them.
A seller signed a valid contract with a buyer for the sale of a restaurant building. The contract provided that the closing would occur at the office of the seller's attorney 30 days after the date of the contract.
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A is incorrect. The buyer may request a change in the closing date. If the seller had not agreed, the buyer could close within a reasonable time of the initial closing date because time had not yet been made of the essence.
C is incorrect. Time had been made «of the essence» when the closing date was changed. It is irrelevant why the buyer did not appear at the rescheduled closing; the failure to close on that date constituted a breach of contract.
D is incorrect. Though the original contract did not mention time being «of the essence,» time can be made «of the essence» in a later document. To do so in a land sale contract, there must be a reasonable time between the date of the notice that time is now «of the essence» and the rescheduled closing date.