When a party to a contract fails to perform a contract within the fixed time ........

Indian Contract Act (ICA)1872 Valid and Void Contracts

When a party to a contract fails to perform a contract within the fixed time:

Such contract remains valid provided the promise is fulfilled whether at the time of performance or later

Such a contract becomes void

Such contract becomes voidable at the option of the promise, if the intention of the parties was that time should be of essence of the contract

Such a contract becomes voidable at the option of the promisor or promise and the intention of the parties does not matter

Such contract becomes voidable at the option of the promise, if the intention of the parties was that time should be of essence of the contract

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