Serif'd fonts like Time New Roman are not usually a good idea on a web
page (or anywhere that is going to be viewed mainly on a screen).
Screens generally have a resolution of about 75 dpi, which results in
the serifs getting a bit blurry. This doesn't happen on printers which
average about 300 dpi resolution. Better to use Arial, or any other
sans-serif font for screen content.
Also, the font size shouldn't be fixed. It can't take account of the
viewer's screen size/resolution or their sight capability. Use ems
instead. That way if the viewer wants the font size increasing or
decreasing it's easy to do this in the browser.
Roger