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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.

For a court to award specific performance as a remedy, several conditions must be met: A valid and binding contract must be in place. Monetary damages must be inadequate. Mutual obligation must be present, meaning both parties had duties to the other under the contract.

Specific performance is a common remedy for a failed purchase and sale of real property. By initiating a specific performance cause of action, the buyer or seller of real property asks the court to compel the other party to perform its contractual obligation to either buy or sell the property.

Courts will enforce specific performance only if the underlying contract was fair and equitable. It is up to the plaintiff to demonstrate that the contract was an appropriate one, legal, with each party receiving fair consideration for performance.

Obtaining Specific Performance in a Breach of Contract When the breaching party is found guilty of a material breach, the wronged party can pursue specific performance as a remedy to the breach. Other remedies include collecting damages in the value of money determined by the court, or a settlement.

Specific performance is a specialized remedy used by courts when no other remedy (such as money) will adequately compensate the other party. If a legal remedy will put the injured party in the position he or she would have enjoyed had the contract been fully performed, then the court will use that option instead.

Requirements for Specific Performance: Courts will enforce specific performance only if the underlying contract was fair and equitable. It is up to the plaintiff to demonstrate that the contract was an appropriate one, legal, with each party receiving fair consideration for performance.

Specific performance is a type of remedy for breach of contract in which a court orders the breaching party to perform their end of the bargain. Monetary damages are typically favored over specific performance as a remedy for breach of contract.

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.

Succinctly, specific performance is available when there exists: 1) a valid and binding contract; 2) definite and certain terms; 3) mutuality of obligation and remedy; 4) freedom from fraud and overreaching; and 5) lack of remedy at law.

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Requirements For Specific Performance Lawsuits. Consult the rules and caselaw that govern in the court where you are filing the pleading.Find out what goes into the legal contract between you and the seller. Learn your rights and responsibilities with forming a contract. The Balls breached the agreement. Mr. Oliver filed a complaint asking for specific performance. Whether this vested the community estate with an interest in the apartment. Vendor seeks to recover loss on resale of property. Read latest breaking news, updates, and headlines. Kristi Noem's daughter got preferential treatment while she was applying for a real estate appraiser's license in 2020.

Queens New York Complaint for Specific Performance of Real Estate Contract

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What is the rule of specific performance?

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