Dictionary of Legal Terms
What is a Time is of the Essence Clause?
A contractual provision meaning that the performance of a term or condition in the time period specified is important (or material), and that the failure to perform within the specified time will lead to a breach of the contract.
See Also: Acceleration Clause, Severability Clause
Related Articles
![Deceptive Tactics Used in Business Contracts]()
Businesses Beware: 5 Deceptive Tactics Used in Business Contracts
Business agreements have lasting effects on owners and their businesses, and should be carefully reviewed before signing.
Sept. 16, 2019![How Can I Get Out of My Business Contract?]()
How Can I Get Out of My Business Contract?
Unforeseen circumstances can render a party to an agreement unable to fulfill their obligations. Here are some ways to get out of a contract.
Sept. 16, 2019
Your access and use of this website are subject to our Terms of Use and Privacy Policy. Any membership in a BizCounsel plan is further governed by our Legal Plan Contract and Terms of Service.
BizCounsel provides access to independent attorneys at your direction. BizCounsel is not a law firm or lawyer referral service and cannot provide any advice or opinion about your legal rights. BizCounsel does not endorse or recommend any lawyer or law firm who advertises on our site. Membership in a legal plan is not an endorsement of any firm or attorney. Information you submit through this site may not be protected by attorney-client privilege.
