What may happen if a party does not assert their rights under a contract?

If a party does not assert their rights under a contract, they may lose the ability to enforce that contract, which is why this answer is correct. In legal terms, this concept is often referred to as "waiver" or "laches." Waiver occurs when a party fails to act in a way that is consistent with maintaining their rights, and as a result, they can be seen as relinquishing those rights.

For example, if a party has a right to remedy a breach of contract but chooses not to act on it for an extended period, a court may determine that they have effectively accepted the breach and can no longer seek enforcement or damages. Additionally, this principle encourages parties to assert their rights promptly and protect their interests, thus ensuring that contracts are upheld in a timely manner.

In contrast, the other options imply scenarios that do not align with contract enforcement principles. Gaining additional rights does not occur simply by inaction; rights must typically be claimed or negotiated. Having an unconditional right to rescind would require specific legal grounds and circumstances, not merely a lack of action. Lastly, celebrating a legal victory is not a direct consequence of failing to assert rights; it's more likely that inaction would lead to a loss rather than a victory