time is of the essence
When a clause in a contract (normally related to a time deadline) is made "of the essence", it means that the innocent party can claim immediately if the relevant provision is broken without having to give any notice or allow a period for compliance. This is often used where the aggrieved party wants to be able to terminate a contract for non-compliance rather than merely claiming can only normally claim damages for losses he suffers due to the delay. If a term is not of the essence, a new deadline would need to be set which would then be made of the essence.

Easyform Glossary of Law Terms. — UK law terms.


time is of the essence
n.
A phrase used in contracts in which performance by one of the parties at or by a specific time is an essential term. See also reasonable time

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


time is of the essence
A phrase often used in contracts to emphasize that any delays will be grounds for termination.
Category: Representing Yourself in Court
Category: Small Claims Court
Category: Small Claims Court & Lawsuits

Nolo’s Plain-English Law Dictionary. . 2009.


time is of the essence
n. 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 Dictionary. . 2000.


time is of the essence
A phrase in a contract that means that performance by one party at or within the period specified in the contract is necessary to enable that party to require performance by the other party.

Dictionary from West's Encyclopedia of American Law. 2005.


time is of the essence
A phrase in a contract that means that performance by one party at or within the period specified in the contract is necessary to enable that party to require performance by the other party.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

time is of the essence
n.
   a phrase often used in contracts which in effect says: the specified time and dates in this agreement are vital and thus mandatory, and "we mean it." Therefore any delay-reasonable or not, slight or not-will be grounds for cancelling the agreement.
   See also: contract

Law dictionary. . 2013.

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