Definition - What does Drop-Dead Date mean?
A drop-dead date is the final day on which a contract obligation must be met. If the obligation is not met on this day, then legal consequences can follow.
In the context of the law, many lawsuits are filed due to contractual obligations not being met by the drop-dead date.
Justipedia explains Drop-Dead Date
Drop-dead dates are used in many different types of contracts. Construction is one industry that frequently uses them. For example, if a construction company agrees to build a building by a drop-dead date of April 1st, and if the company fails to do this, then it can be held liable for damages. In this case, the other party in the contract would have the legal justification to bring the construction company to court if it wanted to.