Legal Dictionary
Legal Terms Made Easy to Understand
Select 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
![force majeure in your contract coronavirus]()
Coronavirus & your Contracts: What you Need to Know about Force Majeure
Force majeure isn't as straightforward as you may like. What are it's implications during pandemics?
May 5, 2020![COVID 19 Commercial Lease]()
How does COVID-19 Affect my Commercial Lease?
Many commercial tenants are being forced to reduce their business output or temporarily shut-down operations altogether.
May 4, 2020
Learn how BizCounsel can help your business
