Definition of "time is of the essence" [time is of the essence]

• Used to express a need for haste in action or response. (phrase)
• Said when something must be done immediately: When transporting organs for transplant, time is of the essence. (phrase)
• When used in a contract, places the other party on notice that failure to complete a required performance by a date certain set forth therein will constitute an incurable breach. (phrase)

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