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It means that time is the most important aspect of the situation, usually that a hurry is now required.

You may have all the supplies, money, co-operation, super-structure and co-ordination needed but they all have to be applied at the right moment or they are meaningless.

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โˆ™ 2009-06-15 14:52:48
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Q: What does Time is of the essences mean?
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