Legal Articles Miscellaneous Legal Articles “TIME IS OF THE ESSENCE” CLAUSE IN COMMERCIAL CONTRACTS IN INDIA January 22, 2013 / February 10, 2013 by Kirti Dashora | Leave a Comment Commercial Contracts in India more often than not contain a clause of “Time is the essence of the Contract”. This clause becomes imperative considering the fact that sometimes the transactions are of enormous value and any kind of delays on the part of one party can entail very large amounts of losses for the other. […] Read more » 1872 case of China Cotton Exporters v. Beharilal Ramcharan Cotton Mills Ltd CLAUSE IN COMMERCIAL CONTRACTS IN INDIA Commercial Contracts in India Dictionary of Modern Legal Usage essence of the Contract express words used in the contract Garner Garner’s Dictionary of Modern Legal Usage immovable property Indian Contract Act Intention of the parties nature of the contract nature of the property section 4 of the Contract Act Section 55 of the Indian Contract Act Stipulations in the Contract surrounding circumstances Time Time is the essence of the Contract