“…But…it was not in writing, and therefore un-enforceable….”

"Time is of the ESSESENCE."

“Time is of the ESSESENCE.”

Time is of the ESSENCE:  Timing is everything.  For those who are familiar with real estate contracts, and most any legal contract; there is always a clause dealing with TIME.  When to close, when to complete a certain condition in the contract, etc.  Failing to make the various time frames perfectly clear will leave you with a WEAK CONTRACTUAL AGREEMENT, which might make enforcement more difficult.  Not too long ago, for an example, I had a verbal understanding that a tenant and I would extend a certain lease for one additional year.  We shook hands on it (which was good enough for me), and I told him I would bring an extension agreement around in a few days.  By the time I got around to it; three weeks passed, when I presented him with the Agreement, he said that he was looking at another location, and the end result was that he relocated, leaving me $72K  short on rental income over the next year, or more.  A REAL BAD MISTAKE on my part, and one that I knew full well, that I should have presented the Agreement immediately upon our verbal agreement.  My word was good – his was not.  But, it was not in writing, and therefore un-enforceable.  REVELATION 1:19 – “Write down what you have seen–both the things that are now happening and the things that will happen. …Blessings …cjlb…12/30/13

About Charles Brooks

who is originally from Miami, Fla., moved to SC, holds two degrees from the University of SC. His business background is primarily in Real Estate Development (Motels, Hotel, Office Buildings, Restaurants, Residential) and Business Consulting. He currently is Managing Director of Brooks, Baker, Lehman & Kohlhepp - Investors in Real Estate and Mining, and has other business interests under the umbrella of Brooks Properties. FULL-TIME-MINISTRY: Fully engaged in spreading the Gospel of Our Lord Jesus Christ, with an emphasis on the Business Community.


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