Text (MM+errata): Target player skips his or her next combat phase this turn. [Oracle 2000/10/24]
The player skips their next combat phase this turn (if any). If they manage to have two combat phases (due to Relentless Assault or some similar effect), then only their next one combat phase is skipped. [MM FAQ 1999/09/22]
It must be used before the combat phase starts or it has no effect. [D'Angelo 1999/11/27]
If played on a player when it is not their turn, it has no effect. [DeLaney 2000/01/16]