Jonathan Buntman
New member
Fact pattern: In New Jersey, the seller of a house under contract issues a time of essence letter ("TOE") to buyer (in accordance with the terms of original contract). Does seller have to be ready, willing and able to sell at the time the TOE is *issued* for the TOE to be enforceable, or is it enforceable if seller is ready, willing and able to sell by the date specified in TOE (but wasn't ready, willing and able at time the TOE was issued).
For example, if a seller has the contractual obligation to make a minor repair to the house prior to sale, then Seller issues TOE, and Seller does the repair prior to the deadline specified in the TOE. Is the TOE enforceable?
For example, if a seller has the contractual obligation to make a minor repair to the house prior to sale, then Seller issues TOE, and Seller does the repair prior to the deadline specified in the TOE. Is the TOE enforceable?