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Time is of the essence
"Time is of the essence" is a term in English and United States contract law that indicates that the 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 (Ariz. 1990), in which the lease included a ''Time is of the essence'' clause, the court ruled a minor delay did not cause material harm and thus no breach of contract occurred.〔(【引用サイトリンク】publisher=CaseBriefs )〕
Compare this to an "express clause", where a specific contract term must be performed to avoid breach, such as in the court decision in ''Dove v. Rose Acre Farms, Inc.'' 434 N.E.2d 931 (Ct. App. Ind. 1982).〔(【引用サイトリンク】publisher=CaseBriefs )〕
Contrast this with reasonable time, where a delay in performing may be justified if it is reasonably required, based upon subjective circumstances such as unexpected weather.
==References==
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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