<Table> <Tr> <Td> </Td> <Td> The examples and perspective in this article deal primarily with the United States and do not represent a worldwide view of the subject . You may improve this article, discuss the issue on the talk page, or create a new article, as appropriate . (August 2012) (Learn how and when to remove this template message) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> The examples and perspective in this article deal primarily with the United States and do not represent a worldwide view of the subject . You may improve this article, discuss the issue on the talk page, or create a new article, as appropriate . (August 2012) (Learn how and when to remove this template message) </Td> </Tr> <P> "Time is of the essence" is a term used in contract law in England and Wales, Canada, Australia, New Zealand, other Commonwealth counties and the United States expressing "the need for timely completion", i.e. indicating that one or more parties to the agreement must perform by the time to which the parties have agreed if a delay will cause material harm . However, in the case of Foundation Development Corp. v. Loehmann's Inc. 788 P. 2d 1189 (Arizona 1990), in which the lease included a Time is of the essence clause, the court ruled that a minor delay did not cause material harm and thus no breach of contract occurred . </P> <P> Compare this to an "express clause", where a specific contract term must be performed to avoid breach, such as in the court decision in Dove v. Rose Acre Farms, Inc. 434 N.E. 2d 931 (Ct . App . Ind . 1982). </P>

Who said time is of the essence quote