time of the essence

time 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 of the essence
England
A boilerplate clause that makes time limits in the contract an essential condition of the contract in relation to specified matters.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • 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… …   Law dictionary

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  • time is of the essence — The condition of performance of a contract within the time limited for performance by the terms of the contract. 17 Am J2d Contr § 332. When it is said that time is of the essence, the proper meaning of the phrase is that performance by one party …   Ballentine's law dictionary

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  • Time Is of the Essence — Infobox Album | Name = Time Is of the Essence Type = Studio Album Artist = Michael Brecker Released = 1999 Recorded = Genre = Jazz Length = 69:57 Label = Verve Records Producer = George Whitty Reviews = *Allmusic Rating|3|5… …   Wikipedia

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