31. rd Coke defines time of memory to be ‘“‘when no man alive hath had any proof 16 the contrary, nor hath any conusance to the contrary.” Oo. Litt. 866, 86).—Time out 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 sesh evidently contemplated a punctual performance, at the precise time named,-as vital to the agreemen