What is an example of specific performance?

Specific Performance: Overview When a contract is for the sale of a unique property, for instance, mere money damages may not remedy the purchaser’s situation. Example: Rina offers to buy Beth’s house and Beth accepts, but later decides to keep the property. Beth would be compelled to go through with the sale.

What is required by a decree of specific performance?

Specific performance is an equitable remedy in the law of contract, whereby a court issues an order requiring a party to perform a specific act, such as to complete performance of the contract. At common law, a claimant’s rights were limited to an award of damages.

What is the concept of specific performance?

An equitable remedy available for breach of contract. A decree by the court to compel a party to perform its contractual obligations. Unlike damages which are available as of right, specific performance is granted at the court’s discretion.

What are the principles of specific performance?

Specific performance is an equitable, discretionary remedy which, if granted, compels a party to perform a contractual obligation. The traditional view was that specific performance would not be ordered if damages could provide an ‘adequate’ remedy.

Can seller use specific performance?

While sellers can sue for specific performance against a buyer over a failure to perform on a real estate contract, the remedy is rarely applicable and even more rarely sought. These provisions protect the seller from a buyer’s breach by providing a simple money damages remedy, rather than a forced sale.

What is the remedy of specific performance?

A contractual remedy in which the court orders a party to actually perform its promise as closely as possible, because monetary damages are somehow inadequate to fix the harm. Most commonly ordered in cases involving real property and rare chattels.

How do you request a specific performance?

Thus, a complaint for specific performance should allege:

1. The making of a specifically enforceable type of contract, sufficiently certain in its terms and with legally competent parties;
2. Adequate mutual consideration;
3. Just and reasonable contract;
4. Plaintiff’s performance, tender, or excuse for nonperformance;

How do you claim specific performance?

Although the plaintiff can elect to claim specific performance from the defendant, the court has a discretion to grant or decline the order of specific performance. The discretion must be exercised judicially and does not confine on rigid rules. Courts decide each case according to its own facts and circumstances.

Is it worth suing for specific performance?

Specific performance is an equitable remedy and is used by the courts when monetary damages are not enough to remedy the legal dispute. You must prove that monetary damages are inadequate relief to compensate you for the loss.

How do you enforce specific performance?

In order to enforce a contract, a party must have met his obligations under the contract to show a reason why his performance is excused. The defendant must have breached the agreement. The failure to convey the property will usually constitute a breach of the purchase and sale agreement.

How do you get specific performance?

There is a specific performance of a contract. In some instances, that party would rather have the court force the other party to comply with the terms of the agreement. In that situation, the non-breaching party can ask the court to grant the “specific performance” of the contract.

What is specific performance of agreement?

Specific performance means fulfilling a promise made under a contract as agreed. A suit for specific performance can be filed by any party, in a court of competent jurisdiction, who has suffered loss due to non-performance of contract on part of the other party to the contract.

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Which is the best definition of specific performance?

While specific performance is technically the performance of a contractual obligation, it is most commonly referred to in relation to a court order to fulfill such an obligation. Specific performance is a directive ordered by a court wherein a party to a contract must perform a specific action as outlined in an existent contract.

Is it possible to enforce a specific performance contract?

Specific performance is impossible. The contract is too vague to be enforced. The contract was terminable at will (meaning either party can renege without notice). The contract required constant supervision. Mutuality was lacking in the initial agreement of the contract. The contract was made for no consideration.

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