Early history of the jurisdiction of equity to relieve from forfeiture and penal- 775 Distinction between contracting in advance for a penalty and making an un- 780 Excuse for non-performance of a condition requiring a certificate of an ar- 794 Effect of a condition requiring valuation-transfer of property.. Failure of valuation without fault of either party... How far the valuation is conclusive upon the parties. Relief from conditions is not wholly a matter of construction. Conditions are enforced more strictly if no forfeiture is caused. Impossibility does not excuse breach of condition precedent.. Impossibility of performing conditions subsequent.... A breach in limine as to time is fatal in contracts of sale. Whether the time for the payment of money is of the essence.. Time is of the essence even in equity if the property is of speculative or fluc- |