What is the latest time for completion under the Standard Conditions of Sale if the seller is not in default?

What is the latest time for completion under the Standard Conditions of Sale if the seller is not in default?

• A. 12:00
• B. 1:30pm
• C. 2:00pm
• D. 3:00pm

Answer: (C)

The fixed time for completion is built into the Standard Conditions of Sale to provide certainty about when the transfer of title and payment must occur. If the seller is not in default, completion must take place no later than 2:00 pm on the Completion Date. This mid‑afternoon deadline helps ensure funds and documents can be exchanged and the transaction can be concluded within the day. If completion misses that time and the seller is not in default, the seller can treat the contract as at an end and pursue remedies for breach, unless the contract itself provides a different arrangement. The other times would only apply if the contract expressly says so or if the seller is in default and different consequences follow.

The fixed time for completion is built into the Standard Conditions of Sale to provide certainty about when the transfer of title and payment must occur. If the seller is not in default, completion must take place no later than 2:00 pm on the Completion Date. This mid‑afternoon deadline helps ensure funds and documents can be exchanged and the transaction can be concluded within the day. If completion misses that time and the seller is not in default, the seller can treat the contract as at an end and pursue remedies for breach, unless the contract itself provides a different arrangement. The other times would only apply if the contract expressly says so or if the seller is in default and different consequences follow.