Ontario Real Estate Licensing Exam Practice · Question
A tenant in Guelph has an Agreement to Lease that specifies a move-in date of October 1st, 2024, at 9:00 AM, and states that 'time is of the essence.' The landlord fails to provide possession until October 2nd. What are the potential implications for the tenant?
When a contract includes 'time is of the essence,' strict adherence to the specified deadlines is crucial. Failure to meet such a deadline by one party can be c
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Question: A tenant in Guelph has an Agreement to Lease that specifies a move-in date of October 1st, 2024, at 9:00 AM, and states that 'time is of the essence.' The landlord fails to provide possession until October 2nd. What are the potential implications for the tenant?
Answer options:
- The tenant is obligated to accept the keys on October 2nd. ✅ The tenant may have grounds to immediately terminate the lease.
- The landlord is entitled to collect full rent for October.
- The tenant can only sue for damages after 30 days of delayed possession.
Correct answer: The tenant may have grounds to immediately terminate the lease.
Explanation: When a contract includes 'time is of the essence,' strict adherence to the specified deadlines is crucial. Failure to meet such a deadline by one party can be considered a fundamental breach, potentially allowing the other party to terminate the contract.
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