When dealing with contracts, it is important to understand the concept of legal duress. Legal duress refers to a situation where one party is forced or coerced into entering into a contract against their will or under extreme pressure. In such cases, the contract is considered to have been entered into under duress, and its validity may be called into question.
If a contract has been entered into under legal duress, it is important for the affected party to take timely action. This means that the avoidance of the contract must occur before ratification. Ratification refers to a situation where the affected party acknowledges the validity of the contract, either through express or implied conduct.
Avoidance of the contract must be timely because once the affected party ratifies the contract, they lose the right to challenge it on grounds of legal duress. In other words, if they affirm the contract after having entered into it under duress, the contract becomes legally binding and enforceable.
To avoid a contract affected by legal duress, the affected party must act promptly. They must inform the other party of the situation and make it clear that they are not willing to abide by the terms of the contract. They may also seek legal advice to understand their rights and obligations.
It is important to note that legal duress is not the same as economic duress. Economic duress refers to a situation where one party uses economic pressure to force the other party to enter into a contract. In such cases, the contract may still be valid but may be challenged on grounds of undue influence or unfairness.
In conclusion, if you find yourself in a situation where you have entered into a contract under legal duress, it is important to take timely action. Avoidance must occur before ratification to have any chance of success. Seek legal advice and take the necessary steps to protect your rights and interests.