Oregon Complaint for Specific Performance of the Purchase of a Corporation
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How to fill out Oregon Complaint For Specific Performance Of The Purchase Of A Corporation?
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FAQ
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.Specific performance is commonly used in the form of injunctive relief concerning confidential information or real property.
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.
Specific performance is a remedy in contract law that is most often applied in real estate litigation and disputes where a court issues an order requiring a party to perform a specific act, and to specifically perform according to the terms of a contract.This is called specific performance.
When a buyer defaults, a seller has the option to sue for specific performance. This is an equitable remedy and an alternative to collecting monetary damages. It is a claim that is pursued through litigation, and if it is granted, a court will order a buyer to go to closing on a home.
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.
Specific performance is only ordered in situations in which monetary damages would be inadequate to compensate the injured party. When specific performance is ordered, money damages are usually not ordered as the moving party is typically not entitled to both types of damages.
However, to win a specific performance lawsuit the buyer`s sales contract must be exact enough for the court to order its performance. To prevent the seller from selling the property to another buyer, most specific performance lawsuits also involve recording a lis pendens against the home`s title.
Suing for Specific Performance as a Buyer The buyer is allowed to sue for specific performance if the seller refuses to move forward with her obligations under the agreed upon contract.
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. Remedy of specific performance which is affected in case of breach of contracts is provided by the equity courts.
Suing for Specific Performance as a Buyer The buyer is allowed to sue for specific performance if the seller refuses to move forward with her obligations under the agreed upon contract.