Cancellation of an Instrument - Preclusion Of Relief

A person seeking the equitable relief of the cancellation of an instrument might be precluded from it by waiver or ESTOPPEL. The right to such relief may be waived or relinquished by a plaintiff's conduct, such as by failing to pursue a remedy within a reasonable time from the execution of the document, a form of LACHES. The doctrine of equitable estoppel—by which a person is precluded by conduct from asserting his or her rights because another has relied on that conduct and will be injured if the relief is not precluded—may also operate in a case in which cancellation of an instrument is sought.

The ratification of a document by a party prevents its subsequent abrogation. If a party knowingly affirms or ratifies an instrument—whether by stating so, or by using the property received under it—he or she is precluded from having it set aside.