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The Contract Closing Date - Don't Pack Your Bags Just Yet

The contract is signed and it specifies a closing date to be held "on," "on or about," or "on or before" the closing date specified in the contract (the "Contract Closing Date"). When the client is contacted to schedule the closing, the client tells his attorney that he must close on the Contract Closing Date as he has already scheduled his movers and does not want to put his belongings in storage. Moreover, he has no place to go. The attorney advises his client that he has spoken to counsel for the other party who has advised that his client is not available to close on the Contract Closing Date and needs some additional time to prepare for the closing. The client is insistent that the parties close on the Contract Closing Date as, after all, that date is set forth in the contract.

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