Borrowed Time is set in mid-1930's. The player assumes the role of a private investigator named Sam Harlow, who has to solve the kidnapping of his ex-wife Rita Sweeney. At the beginning, he runs away from two thugs, who want to kill him for an unknown reason. They fail, and he begins to search the town for clues, asking its inhabitants for information.
The gameplay involves typing in combinations of verbs and nouns to make actions. The player interacts with locations described in text form, accompanied by pictures that provide additional information not contained in the text description.