Garrett wanted to move his real estate closing so that he can get through his wedding first. his broker and attorney encouraged him not to do it because time is of the essence.
In a legal context, time is of the essence is a statement that may be included in the language of the provisions of a contract to emphasize that the parties must complete their obligations on time. In other words, the phrase “time is of the essence” means that timing is material to the performance of the contract.
Time is of the essence is a term used in contract law in England and Wales a legal jurisdiction within the United Kingdom), Canada, Australia, New Zealand, other Commonwealth countries, and the United States expressed the need for timely completion, i.e. indicating that one or more parties to the agreement.
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