Time for the #contract term of the day! Let's do "time is of the essence."
“Time is of the essence” is a legal term of art that *removes* the element of "reasonability" from the issue of schedule, delivery, and performance schedules and can be read to require absolute compliance with no deviation. This makes your schedule more like a guarantee rather than an agreement that you'll deliver absent intervening causes, like weather, supply chain interruptions, etc.
If that term is NOT in there, it just means that the completion times / schedules are within a “reasonable” amount of time of the date stated.
If it IS in there, and you miss a deadline, even if it isn't really your fault, you could be looking at strict liability - which means you're subject to paying penalties or damages regardless of the reason for the delay. This is not great, and it can even be outside of your insurance coverage if you are a service provider!
So don't do this. Say that the schedule is important, that you'll deliver on the timeline unless there is a delay that you didn't caused, say anything else! Just not "time is of the essence."
necessary disclaimer: I'm **A lawyer, but not YOUR lawyer, this is not an attorney/client relationship nor does it form one, and you should seek counsel licensed in your jurisdiction for advice on any legal issue, including contract terms. This is just for entertainment purposes!** #grownostr #contracts #agorism #agorist #intentionalcommunities #law #legal
agoristesq / Agorist, Esq.
npub1lm…jnk8r
2023-07-13 19:31:30
Author Public Key
npub1lml8grzw52gc5am4hfhafemur50qjznzkpwjp9nkj7xz2zy9c8qqmjnk8rPublished at
2023-07-13 19:31:30Event JSON
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"content": "Time for the #contract term of the day! Let's do \"time is of the essence.\" \n\n“Time is of the essence” is a legal term of art that *removes* the element of \"reasonability\" from the issue of schedule, delivery, and performance schedules and can be read to require absolute compliance with no deviation. This makes your schedule more like a guarantee rather than an agreement that you'll deliver absent intervening causes, like weather, supply chain interruptions, etc. \n\nIf that term is NOT in there, it just means that the completion times / schedules are within a “reasonable” amount of time of the date stated. \n\nIf it IS in there, and you miss a deadline, even if it isn't really your fault, you could be looking at strict liability - which means you're subject to paying penalties or damages regardless of the reason for the delay. This is not great, and it can even be outside of your insurance coverage if you are a service provider! \n\nSo don't do this. Say that the schedule is important, that you'll deliver on the timeline unless there is a delay that you didn't caused, say anything else! Just not \"time is of the essence.\" \n\nnecessary disclaimer: I'm **A lawyer, but not YOUR lawyer, this is not an attorney/client relationship nor does it form one, and you should seek counsel licensed in your jurisdiction for advice on any legal issue, including contract terms. This is just for entertainment purposes!** #grownostr #contracts #agorism #agorist #intentionalcommunities #law #legal",
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