In preparation for the hurricane season, Barney, who owns beachfront property in Florida, enters into a contract with XYZ Contractors to have a wall built to prevent waves from reaching his house. The contract requires that the wall be finished by June 1, which is the start of the hurricane season. The contract has a clause that states “time is of the essence.” During the last week of May, the wall is still 30% incomplete. Even if XYZ Contractors worked around the clock, it would miss the June 1 deadline—a fact that XYZ acknowledges. Barney terminates the contract and hires another contractor to finish the wall.
Was Barney obligated to provide XYZ Contractors with sufficient time to cure the breach? Explain your reasoning.