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The Time is of the Essence clause is the legal community's way of emphasizing that time is an integral part of a contract. Failure to meet deadlines translates to a breach of contract, often accompanied by financial penalties and potential legal actions.
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The phrase "time is of the essence" means that timely performance is an essential obligation under a contract, and thus failure to perform in a timely manner amounts to a material breach of contract giving rise to the other party's right to exercise its remedies for breach.
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English Wikipedia has an article on: time is of the essence Phrase [ edit] time is of the essence ( set phrase) Time is an essential consideration (in regard to an action or response); haste is necessary. Synonym: no time to lose When transporting organs for transplant, time is of the essence.
Time is of Essence
Noun A contract provision requiring the terms be fulfilled by a certain date. What Does Time is of the Essence Mean "Time is of the essence" is the concept that, should the terms of a contract not be met by a specific deadline, one or more parties could be negatively impacted.
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The prefrontal cortex - an update : time is of the essence. From the Cambridge English Corpus It can be argued that time is of the essence in all care of dying, and how time is spent is of importance to the patient. From the Cambridge English Corpus Companies that are willing explorers must have early access to blocks; time is of the essence.
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the state of being bright and radiant. the wages or perquisites arising from office, employment, or labor. a general feeling or sensation that someone gets or has about something. TAKE THE QUIZ TO FIND OUT Words Nearby Time is of the essence Time heals all wounds time-honored time-honoured time immemorial Time is money Time is of the essence
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For example, instead of saying "the essence of time is," the correct usage would be "time is of the essence." 2. Misunderstanding the Meaning: Another mistake people make is using the phrase without fully understanding its meaning. "Time is of the essence" implies that time is crucial or extremely important in a given situation.
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noun Contractual provision that requires prompt and timely fulfillment of obligations under the contract; failure to complete performance under time constraints set forth in the document may constitute a breach. Example: "Time is of the essence in the completion of this contract." Webster's New World Law Advertisement phrase
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If you say that something is of the essence, you mean that it is absolutely necessary in order for a particular action to be successful . [formal] Time is of the essence. Speed was of the essence in a project of this type. Synonyms: vitally important, essential, vital, critical More Synonyms of of the essence See full dictionary entry for essence
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In a legal context, "time is of the essence" is a statement that may be included in the language of the provisions of a contract to emphasize that the parties must complete their obligations on time. In other words, the phrase "time is of the essence" means that timing is material to the performance of the contract.
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Definition of is of the essence in the Idioms Dictionary. is of the essence phrase. What does is of the essence expression mean? Definitions by the largest Idiom Dictionary.
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In a contract, "time is of the essence" means the parties must complete a task within a specified time. The phrase "of the essence" means that time is an obligation of the contract rather than a mere term. Where one party does not meet the contract's obligations, the other party may terminate the contract. Likewise, they may have the.
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The specifics surrounding a "time is of the essence" clause may vary by contract. But, the basic idea of transparency is always required. Here's what you should find in a valid "time is of the essence" clause: 1. All Parties Must Be Aware Of The Clause. It's crucial that all parties are aware of the "time is of the essence.
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Definition of time is of the essence in the Idioms Dictionary. time is of the essence phrase. What does time is of the essence expression mean? Definitions by the largest Idiom Dictionary.
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(Definition of time is of the essence from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press) Examples of time is of the essence time is of the essence If time is of the essence, the patient should take four vital capacity breaths of 100 % oxygen. From the Cambridge English Corpus
