Q Do you think it is fair and equitable to allow one party to get out of a contract or should we be bound by our agreements? In other words, is there or should there be a "cooling off" period?
Almost all contracts are discharged by performance, this simply means that the parties to contract perform on the basis of what they agreed upon doing. Particularly, during the time of performance that has not been mentioned within a contract, it must be made sure that parties to contract act within a reasonable time. When the time starts, the court would give permission for additional time that is required for performing irrespective of the thing that simply indicates the time of essence and according to this, the then-time performance
