Time term in contract law
A time term fixes when a contractual performance is due, begins, ends, or may be exercised, and affects default, termination, and limitation issues.
In contract law, a time term is an agreed point in time or period relevant to performance or legal effects. It may set a due date, duration, deadline for notice, or condition tied to time. In Swiss obligations practice, distinguishing a fixed due date from an indicative schedule matters for default, interest, rescission, and proof of timely exercise of rights. Interpretation follows the parties’ actual or normative intent, taking account of wording, purpose, conduct, trade usage, and good faith.