Is there a rule for abbreviating is to 's?

Sometimes, we abbreviate sentences like "Nobody is ready" to "Nobody's ready". Is there a rule about this, and is "Nobody's ready" correct or is this considered incorrect?

My apologies if this was already asked, as I couldn't find the answer to this specific case either through Google or by searching on this site.

Solution 1:

It's always correct. "X is Y" can always be shortened to "X's Y". Sometimes it will cause ambiguity, though. For example, does

Jorge's toast

refer to the toast owned by Jorge? Or does it mean

Jorge is toast

in which case, somebody is going to kill Jorge soon. Ambiguity isn't ungrammatical English, but it is good practice to try and provide clarity through careful word choice or good contextual information.