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Enforcement. To enforce your business contract, you should start by contacting the other party to see if she intends to perform — to fulfill her part of the agreement. If the other party has not substantially performed on the contract after being provided notice, you may institute legal action for breach of contract.
What Is an Affirmative Defense to a Breach of Contract Claim? Most defenses to a breach of contract claim are referred to as "affirmative defenses." As a legal matter, this means that the party raising the defense (the person sued for breach of contract) has the burden of proving the defense, if the dispute goes to trial.
How does a mistake affect the enforceability of an agreement? The agreement of parties may be affected by the fact that one or both of them made a mistake. A unilateral mistake is a mistake made by one party to the agreement. A mistake that is unknown to the other party usually does not affect the enforceability of the agreement.
In other words, it makes a significant difference whether the non-mistaken party is aware that the other party does not understand a term in the contract. If the non-mistaken party knows that the other party has made a unilateral mistake, the result is usually contract rescission (cancellation).
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He was given an honorary knighthood in 2002 for his "contribution to global economic stability", but in 2008, at a congressional hearing investigating the causes of the financial crisis, Greenspan.
Both parties must know and understand all the essential terms of the contract to make it enforceable. If either or both parties made a mistake regarding a term or terms of the contract, the contract may be "rescinded," meaning not enforceable. There are two defenses regarding mistakes: mutual mistake and unilateral mistake.
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If a mistake advantages one party and disadvantages the other, it is not unusual for them to disagree as to whether a mistake was made. The disadvantaged party may need to bring a legal action for reformation, which can be combined with a claim for breach of contract – even if the breach of contract claim depends upon the contract being reformed.