Time Is of the Essence
A contract clause that makes the stated deadlines strictly enforceable, so missing a date is a breach.
A time is of the essence clause means the deadlines in the contract must be met exactly. When this clause applies, performing late is a breach even if the delay is short.
Without such a clause, a court may allow a reasonable time to perform, but the clause removes that flexibility.
On the exam
Exam trap
Tested in
Contracts (12% of the exam)
From definition to recall
See this term inside a real exam question.
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This definition is Florida real estate exam-prep education, not legal, tax, or professional advice. Verify current rules against the official source before relying on them for a real transaction. Back to the full glossary.