Where the aggrieved party decides to cancel the agreement and claim damages, the aggrieved party is obliged to send a further written notice to the defaulting party advising that the agreement is cancelled. This written notice must be served by the same method as that of the delivery of the breach notice. Only upon proper service of the cancellation notice can the agreement be deemed to be formally cancelled.
Where the aggrieved party elects not to cancel the agreement but rather to enforce the agreement, the aggrieved will have to consult an attorney to launch an application to court to obtain a court order to compel specific performance (compliance with and execution of the signed agreement). This will be a costly exercise, and one must keep in mind whether the defaulting party will be able to comply with the agreement at the end of the day, before instituting court action.