<P> `` Time is of the essence '' is a term used in contract law in England and Wales , Canada , Australia , New Zealand , other Commonwealth counties and the United States expressing `` the need for timely completion '' , i.e. indicating that one or more parties to the agreement must perform by the time to which the parties have agreed if a delay will cause material harm . However , in the case of Foundation Development Corp. v. Loehmann 's Inc. 788 P. 2d 1189 ( Arizona 1990 ) , in which the lease included a Time is of the essence clause , the court ruled that a minor delay did not cause material harm and thus no breach of contract occurred . </P>
<P> `` Time is of the essence '' is a term used in contract law in England and Wales , Canada , Australia , New Zealand , other Commonwealth counties and the United States expressing `` the need for timely completion '' , i.e. indicating that one or more parties to the agreement must perform by the time to which the parties have agreed if a delay will cause material harm . However , in the case of Foundation Development Corp. v. Loehmann 's Inc. 788 P. 2d 1189 ( Arizona 1990 ) , in which the lease included a Time is of the essence clause , the court ruled that a minor delay did not cause material harm and thus no breach of contract occurred . </P>
who said time is of the essence quote
who said time is of the essence quote
contract law in England and Wales , Canada , Australia , New Zealand , other Commonwealth counties and the United States
contract law in England and Wales , Canada , Australia , New Zealand , other Commonwealth counties and the United States