specific performance


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Related to specific performance: Substantial performance

specific performance

A court order requiring one to comply with the terms of his or her contract rather than the typical legal remedy of paying monetary damages for breach of contract.Real estate is considered unique,and the theory is that a buyer can never take money damages,go out into the marketplace,and replace the property when a seller defaults.As a result,the law gives to the buyer of real estate the remedy of specific performance.Under very exceptional circumstances a court has been known to grant specific performance to a seller and force a buyer to go forward with purchasing real estate.

References in periodicals archive ?
Under a civil law system, however, specific performance is viewed differently.
The appointment of insolvency practitioners should not alone frustrate any entitlement to specific performance that a party would otherwise have, and nor should the fact that specific performance will entitle the Landlord to receive a sum of money.
Among the cases in which specific performance would be an appropriate remedy for an aggrieved seller of goods are those in which the seller is not entitled to bring an action for the price.
Second, the automatic availability of specific performance tends to overcompensate parties harmed by the breach.
Second, he refutes the claim that making specific performance routinely available will result in efficiency losses or interfere with the liberty interest of promisors.
Kastner has filed an action to compel specific performance on the part of the Nederlanders, asking for $35 million in damages, and tacked the lis pendens on the title.
Beware real property owners: The mere filing of a suit for specific performance (regardless of its ultimate success or the merits) can potentially tie up your property for several years, with or without the existence of a lis pendens.
OTCBB: UBCI), a leader in Internet Broadcasting, announced today that live broadcasting for this weekend's Sport Specific Performance sponsored broadcast of the California Sports Hall of Fame Celebrity Golf Tournament will begin at 9 a.
2d 628 (1986), the Court of Appeals held that: "specific performance o f real property leases is not in this State awarded as a matter of course"; and affirmed the lower court's refusal to order specific performance there in favor of tenant.
s kids by including specific performance measurements in the contract for new superintendent Ruben Zacarias.
Theoretically Hivalloy could produce both specific performance alloys and blends of dissimilar waste materials for mixed-plastics recycling.