Share this site with del.icio.us Share this site with digg Share this site with reddit Share this site with technorati Share this site with furl Share this site with stumbleupon Share this site with google Add this site to Yahoo Bookmarks Click here to add us to your favorites Subscribe to our Feed





time is of the essence

Definition

Provision often included in construction, supply, transport, and other types of contracts to stress the punctual completion of the job (or repayment of a loan) as a vital element of the performance of the contract. Any failure to complete the work (or to pay the sums) within stated time limits may constitute breach of the contract.

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z