W

At common law the pivotal issue is the timeliness of performance if the contract calls specifically that 'time is of the essence'. When the deadline has been set and is of the essence the contract may be cancelled if the work has not been completed by that date. (Taylor v. Goelet, 208 N. Y. 253, 259; Lawson v. Hogan, 93 N. Y. 39, 44). But, if the party did not so elect, and instead permitted the contract to continue that party has waived its right to cancel for an untimely performance (Lawson v. Hogan, supra; see General Supply & Constr. Co. v. ...