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Parties have a right to make a stated time for performance the essence of a contract. Such an agreement, when not waived either by words or conduct, is binding and will be given effect by courts of equity as well as of law. Garcin v. Pennsylvania Furnace Co. 186 Mass. 405, 71 N.E. 793. Preferred Underwriters, Inc. v. New York, New Haven & Hartford Railroad, 243 Mass. 457, 137 N.E. 590. Hazen v. Warwick, 256 Mass. 302, 307, 152 N.E. 342. Steedman v. Drinkle, [1916] 1 A.C. 275. Brickles v. Snell, [1916] 2 A.C. 599. 


No principle of law or equity prevents the waiver by parties of such terms of a contract, however explicit may be its phraseology. Waiver may be manifested by acts as well as by words. It is usually a question of fact whether there has been a waiver of stipulations of a contract although that finding need not be made in categorical terms. 


If a party conducts themselves contrary to the express conditions of a contract, it would be unconscionable to permit them without notice or warning to insist upon strict performance of the contract and for the ...

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