A time is of the essence clause is a legal term pertaining to contracts. It means that if a party to a contract does not meet a deadline that has been set forth and agreed upon in a contract, then they may forfeit their rights under the contract. This type of clause is generally used in contracts where there is some urgency to the situation.. Many people mistakenly believe that the inclusion of a ‘time is of the essence’ phrase, simply means that it is important to adhere to the contractual timelines. From a legal perspective, if an obligation is ‘of the essence’ this means it is a condition of the contract. Practically, the implications of this phrase can therefore be severe.
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Examples of TIME IS OF THE ESSENCE in a sentence, how to use it. 25 examples: If time is of the essence, the patient should take four vital capacity breaths…. TIME IS OF THE ESSENCE meaning: 1. said to encourage someone to hurry 2. said to encourage someone to hurry. Learn more.