Do you have the time? and Do you have time?

What is the difference between these two questions?

Do you have the time? = A polite way to ask, "What time is it?

Do you have time? = You want to know if someone has time in her schedule for something. 

Do you have the time?  

"Do you have the time?" is a polite way to ask someone"what time is it?

"If you want to know what time it is, you can ask someone "Do you have the time?" Then he will look at his watch and tell you, "it's 10:36."

Do you have time? 

Imagine this situation, you want to meet with your co-worker on Wednesday afternoon, and you know she is very busy. You want to be polite and respectful of her busy schedule.

YouDo you have time to meet on Wednesday afternoon around 3?
She checks her schedule.
Your co-worker: No, I don't have time on Wednesday afternoon. But I do have time on Thursday morning at 9:00. Does that work for you?
You: Yes, that's great. See you on Thursday morning. 

Don't make this mistake: "Do you have a time?" This question is not correct. 

Do I have time to read your comments?

Yes, I do.

Practice writing "Do you have time....?" questions in the comment section below.