Affirmation of Contract is a legal term that refers to the act of confirming or ratifying a contract that may have been previously voidable. This affirmation can occur through a party’s express agreement to continue with the contract, or through their actions that indicate an intention to uphold the terms of the contract. It serves to validate the original agreement and make it legally binding.
Affirmation of contract refers to the act of a party to a contract agreeing to continue with the terms of the contract after a breach has occurred. This affirmation can be expressed or implied and can occur through words or actions. Once a contract has been affirmed, the non-breaching party is entitled to enforce the terms of the contract and seek damages for any losses suffered as a result of the breach. However, if the non-breaching party fails to take action to enforce the contract after affirmation, they may be deemed to have waived their right to do so.
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This glossary post was last updated: 29th March 2024.
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