The correct way to count contract days

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03/21/2017 | Author: TAR Legal Staff

Many people get confused when it comes to counting days in TREC or TAR residential contracts. Use these tips to avoid calendar confusion.

  1. Days referred to in TREC and TAR residential contracts are calendar days, which means you should count weekends and holidays.
  2. Most deadlines for performance are measured from the effective date of the contract.
  3. The effective date is the date on which the last party to sign and accept the terms communicates acceptance to the other party or the party’s agent.
  4. When the contract uses within, you can determine the last day for performance by starting with the day after the effective date as Day One and counting the number of days specified.
  5. In most TREC and TAR contract provisions, time is not “of the essence,” so minor deviations from deadlines may not necessarily result in damages or the termination of a contract.

Get more useful information like this in the March 2017 issue of Texas REALTOR® magazine.

Categories: Forms, Legal
Tags: legal, forms, contracts, residential

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Legal disclaimer

The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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