Abstract: The time measuring and indication device is an invention that automatically measures and indicates elapsed time and is adapted to be connected to an IV or like medical apparatus. The device measures time by means of measuring the flow of a fluid having a known fluid flow rate. Prior to actuation, the device displays a first indicia such as the word “GOOD”, and after actuation and a predetermined lapse of time, the device displays a second indicia such as the word “EXPIRED”. The device further includes a means to halt or stop the time measuring function and to permanently display the elapsed period of time once the time measuring function is stopped. The time measuring and indication device further includes a means to prevent use of an apparatus such as an IV or like medical apparatus to which the device is attached, without activating the time measuring function of the device.