be overlooked

As a copy editor experienced in search engine optimization (SEO), I have come across numerous articles and documents that contain clauses that often go unnoticed. One such clause that is frequently overlooked is the “time-essence” clause in purchase agreements.

A time-essence clause is a provision in a purchase agreement that stipulates that time is of the essence in the performance of the parties` obligations under the agreement. This means that any delay or failure to perform those obligations within the time frames specified in the agreement will result in a breach of contract.

The importance of including a time-essence clause in a purchase agreement is to ensure that the transaction is completed in a timely manner. Without this clause, parties may attempt to delay or prolong the transaction, which could potentially cause issues and disputes.

However, even though this clause is crucial, it tends to be overlooked by many individuals involved in the purchase agreement. This is mainly because it is often buried in the fine print of the agreement, or because people assume that the timelines specified in the agreement are merely suggested guidelines and not binding provisions.

It is essential to highlight the importance of the time-essence clause to the parties involved in the purchase agreement to ensure that they understand their obligations and adhere to the timelines set out in the agreement. This will help to prevent any misunderstandings, potential disputes, and legal action down the line.

In conclusion, it is crucial to include a time-essence clause in any purchase agreement to ensure that the transaction is completed in a timely manner. However, it is equally important to ensure that the parties involved understand the significance of this clause and the timelines specified in the agreement to prevent any issues from arising. As a professional, it is essential to highlight the importance of this clause in any relevant documents to ensure that it is not overlooked.