A "time is of the essence" clause in a contract boilerplate is conclusive evidence that failure by the promisor to perform on time is a material breach.

Name: A "time is of the essence" clause in a contract boilerplate is conclusive evidence that failure by the promisor to perform on time is a material breach.
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A "time is of the essence" clause indicates that timely performance is important, but whether a delay constitutes a material breach depends on the specific circumstances and impact of the delay.

A "Time Is of the Essence" Clause in a Contract