Time

The measure of duration. The word is expressive both of a precise point or terminus and of an interval betwcen two points.

In pleading. A point in or space of duration at or during which some fact is alleged to have bcen committed.

— Cooling time. See that title.

— Reasonable time. Such length of time as may fairly, properly, and reasonably be allowed or required, having regard to the nature of the act or duty, or of the subject-matter, and to the attending circumstances. It is a maxim of English law that "how long a 'reasonable time' ought to be is not defined in law, but is left to the discretion of the judges." Co. Litt. 50. See Hoggins v. Becraft, 1 Dana (Ky.) 28; Hill v. Hobart, 16 Me. 168; Twin Lick Oil Co. v. Marbury, 91 U. S. 591, 23 In Ed. 328; Campbell v. Whoriskey, 170 Mass. 63, 48 N. EX, 1070.
—'Time-bargain. In the language of the stock exchange, a time-bargain is an agreement to buy or sell stock at a future time, or within a fixed time, at a certain price. It is in reality nothing more than a bargain to pay differences.

— Time check. A certificate signed by a master mechanic or other person in charge of laborers, reciting the amount due to the labarer for labor for a specified time. Burlington Voluntary Relief Dept. v. White, 41 Neb. 547, 59 N. W. 747, 43 AmSt. Rep. 701.

— Time immemorial. Time whereof the memory of a man is not to the contrary.

— Time of memory. In English law. Time commencing from the beginning of the reign of Richard I. 2 Bl. Comm. 31. Lord Coke defines time of memory to be "when no man alive hath had any proof to the contrary, nor hath any conusance to the contrary." Co. Litt86a, 86b

— Time ont of memory. Time beyond memory; time out of mind ; time to which memory does not extend.

— Time-policy. A policy of marine insurance in which the risk is limited, not to a given voyage, but to a certain fixed term or period of time.

— Time the essence of the contract. A case in which "time is of the essence of the contract" is one where the parlies evidently contemplated a punctual performance, at the precise time named, as vital in the agreement, and one of its essential elements. Time is not of the essence of the contract in any case where a moderate delay in performance would not be regarded as an absolute violation of the contract.