| Commentary

56.1 ‘Of the essence’

| Commentary

56: TIME OF THE ESSENCE

(For precedents of clauses as to time being of the essence, see Form 56.1 [2024] onwards)

56.1 ‘Of the essence’

If a term of a contract is stated to be ‘of the essence’ of the contract, breach of that term usually entitles the other party to terminate the contract. This expression is usually encountered in payment clauses, where a provision may include that ‘time of payment is of the essence of the contract’1. Another way of saying the same thing is to state that the term is an ‘essential term’ of the contract, or to state specifically

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