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
![5 Things to Consider Before Signing a Non-Disclosure Agreement (NDA)]()
5 Things to Consider Before Signing a Non-Disclosure Agreement (NDA)
Non-disclosure agreements (NDAs) play an important role in facilitating strong business relationships and securing confidential business information.
Oct. 7, 2019![Liquidated Damages in NDAs]()
Liquidated Damages in NDAs
A liquidated damages clause is a section of the NDA that establishes the monetary consequences when there's a breach of the agreement.
Oct. 7, 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.
LegalZoom is a registered trademark of LegalZoom.com Inc. BizCounsel is not affiliated with LegalZoom and nothing on this site or otherwise is intended to imply LegalZoom.com Inc. endorses or approves of BizCounsel or its services.
