Breach of a sale agreement: enforcement, rescission and damages
Breach of a sale agreement in a 30-second video
Video transcript
Has the other side breached the sale agreement? 3 things you should know. First decide: enforcement or rescission. You cannot have both, and damages can be claimed alongside either. Is the breach not fundamental? Give an extension in writing first. Rescinding without an extension may make you the party in breach. Send the notice of rescission within a reasonable time of the breach; waiting too long may cost you the right to rescind.
In brief
Has the other party breached the sale agreement? First decide: enforcement or rescission; damages may be claimed alongside either. For a breach that is not fundamental, a written extension must be given first, and notice of rescission must be sent within a reasonable time of the breach, because waiting too long may cost you the right to rescind.
For the full explanation: The other side is breaching the sale agreement. What are the options. When a transaction starts to fall apart, the first decision is whether you want the deal or the money. That is not an emotional question but a legal one, and it determines what you are allowed to do and in what order.
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