Summary

John Archibald Campbell Stinson v. Dousman — Opinion of the Court

If the contract is silent in respect to the condition of time, or fails to indicate a distinct purpose of the parties to make it an essential consideration, and where no circumstance exists to manifest its importance, it is the habit of the court to relax the stringency of the rules of legal interpretation on that subject, and to decree performance, and direct compensation, even in cases where there has been inattention or neglect.
Source: Wikisource

John Archibald Campbell Stinson v. Dousman — Opinion of the Court

But if the parties have declared in thir contract that time is a material consideration, and have agreed that their rights shall depend upon a scrupulous fidelity to their engagements, it does not belong to that court to make another law for the parties. Where it plainly appears that the sale is conditional, and its completion is dependent upon the fulfilment of any of the terms with punctuality by either party, a court of equity, in general, will not interpose to relieve the party in default, on the principle that time is not of the essence of the contract.
Source: Wikisource

John Archibald Campbell Stinson v. Dousman — Opinion of the Court

The District and Supreme Court of Minnesota decided that the answer was not sufficient, and judgment was entered for the plaintiff. The admissions of the answer exhibit a case of default on the part of the defendant in respect to his performance of the covenants in the contract of sale. The technical rule, that 'accord and satisfaction is no bar to an action for debt certain, covenanted to be paid,' is, perhaps, inapplicable in a system like that contained in the code of Minnesota; and it is probably true, that a debt by covenant may be discharged there by a simple contract or agreement.
Source: Wikisource

Get perspective with Kwize: daily news enlightened by great literature