Gain a better understanding of “time is of the essence” clauses.
“Time is of the essence” refers to a contractual position in which, if the subcontractor fails to complete its obligations by a specified date, then the contractor can treat the contract as terminated. Setting a completion date is not sufficient to make time of the essence. This video reviews indications of this type of clause and discusses when delayed performance will likely result in a material breach of the subcontract.
Agenda
Faculty
Lisa Lombardo
Gibbons P.C.
- Director in the Gibbons P.C. Commercial & Criminal Litigation Department and Construction Team Leader
- Has successfully litigated matters before the state and federal courts of New Jersey and New York, as well as the American Arbitration Association, with a focus on construction matters
- Her experience in commercial litigation and construction litigation is unique in that she represents both plaintiffs and defendants
- Served as co-lead counsel in a three-year-long arbitration representing a major university in a claim involving extensive and complex design and construction defects, which resulted in a multimillion-dollar award in our client’s favor and the arbitrator striking down a limitation of liability clause
- Experience drafting and negotiating contracts, and regularly works with owners, contractors, subcontractors, and designers on contracts for projects involving academic centers, public schools, laboratory facilities, office buildings, energy facilities, public/private projects, and building additions of varying sizes
- On the American Arbitration Association Panel of Construction Arbitrators, a member of the Roster of Mediators, and the New Jersey Superior Court Roster of Mediators, where she has mediated a variety of civil matters
- Can be contacted at [email protected] or 973-596-4500 ext. 4481
Meghal Shah
Gibbons P.C.
- Associate in the Gibbons P.C. Commercial & Criminal Litigation Department
- Has assisted in briefing and preparing presentation, slides and materials to a Dispute Resolution Board regarding complex construction delay claims and has experience in drafting arbitration submissions regarding type 1 and type 2 differing site conditions
- She has also assisted with drafting project-specific construction agreements
- Completed a judicial clerkship at the Supreme Court of New Jersey for the Honorable Anne M. Patterson
- Can be contacted at 973-596-4717 or [email protected]
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