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(1) Notice of avoidance shall be given within a reasonable time, having regard to the circumstances, after the avoiding party knew or could not have been unaware of the relevant facts or became capable of acting freely. 

 

(2) Where an individual term of the contract may be avoided by a party under Article 3.2.7, the period of time for giving notice of avoidance begins to run when that term is asserted by the other party.

 

COMMENT

According to paragraph (1) of this Article notice of avoidance must be given within a reasonable time after the avoiding party became aware or could not have been unaware of the relevant facts or became capable of acting freely. More precisely, the mistaken or defrauded party must give notice of avoidance within a reasonable time after it became aware or could no longer be unaware of the mistake or fraud. The same applies in cases of gross disparity which result from an abuse of the innocent party’s ignorance, improvidence or inexperience. In cases of threat or abuse of the innocent party’s dependence, economic distress or urgent needs the period runs from the time the threatened or abused party becomes capable of acting freely.

In case of avoidance of an individual term of the contract in accordance with Article 3.2.7, paragraph (2) of this Article states that the period of time for giving notice begins to run when that term is asserted by the party.

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