In what circumstances will Lord Esher argue that time is of the essence of a contract?

Saskatchewan, Canada

The following excerpt is from Mooney v. Lipka, 1926 CanLII 131 (SK CA):

In Sharp v. Christmas (1892) 8 T.L.R. 687, the subject-matter of the contract was a quantity of potatoes to be delivered on board a boat in England before Christmas. The report shows Lord Esher as saying: The general rule was that in a mercantile contract time was of the essence of the contract. And in this case it was particularly so, for potatoes were a perishable commodity.

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