what is specific performance law

What is specific performance?

This is called specific performance 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.

What is specific performance in law 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. … Specific performance is commonly used in the form of injunctive relief concerning confidential information or real property.

What is specific performance under California law?

What is specific performance under California law? Specific performance is an extraordinary order from the court requiring a contractual party to perform a specific obligation or act in accordance with what he or she had agreed upon in the contract.

What is'specific performance'as a legal remedy?

What Is 'Specific Performance' as a Legal Remedy? There are a few different legal remedies a party may consider when another party has allegedly breached its contractual obligation, including lawsuits and arbitration. However, sometimes a monetary remedy doesn't quite make the plaintiff whole, which is the goal of any civil remedy.

What is specific performance in law example?

A specific performance example is when a party defaults on its contractual obligation and is ordered by the court to fulfill said obligations. An alternative to the much more common award of monetary damages, specific performance is an injunction on a contract dispute often involving sensitive material or real estate.

What does specific performance mean?

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.

What does entitled to specific performance mean?

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.

What does suit for specific performance mean?

Specific Performance asks the court to force the opposing party into a contract that binds them to actually perform the contract at issue, rather than award damages for breach of contract. In real estate litigation, a buyer can force a reluctant seller to live up to the purchase and sale agreement.

Who can obtain specific performance?

Any party: Illustration: In a contract, there are two parties, A and B. Therefore, either of the parties can obtain specific performance of the contract. 2. The principle or the representative in interest, of any party.

What are the elements of specific performance?

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.

How do you enforce 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.

When can specific performance not be granted?

Specific performance will not granted where compensation is enough relief. Damages may be considered to be an inadequate remedy. If it is difficult to quantify them. Thus, specific performance may be ordered of a contract to execute a mortgage for money advanced.

Who can sue for specific performance of contract?

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.

What are the 3 remedies at law?

There are three types of equitable remedies: specific performance, injunction, and restitution.Specific Performance. Specific performance is a judicial order to the promisor that he undertake the performance to which he obligated himself in a contract. ... Injunction. ... Restitution.

What is specific performance and when will it be granted?

The specific performance is also an equitable relief. The plaintiff seeking this remedy must first satisfy the court that the normal remedy of damages is inadequate, the presumption being that in cases of contracts for transfer of immovable property , damages will not be adequate.

Can specific performance be a cause of action?

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.

What is specific performance and when will it be granted?

The specific performance is also an equitable relief. The plaintiff seeking this remedy must first satisfy the court that the normal remedy of damages is inadequate, the presumption being that in cases of contracts for transfer of immovable property , damages will not be adequate.

When can specific performance not be granted?

Specific performance will not granted where compensation is enough relief. Damages may be considered to be an inadequate remedy. If it is difficult to quantify them. Thus, specific performance may be ordered of a contract to execute a mortgage for money advanced.

When can a seller sue for specific performance?

Who can sue for specific performance? A damaged party in a contract can sue the other party who is breaching the contract for specific performance. A damaged party is one who was expecting an act on the part of other part.

In which circumstances would a buyer most likely sue for specific performance?

Buyer's Suing for Specific Performance The buyer may pursue specific performance if the seller is unwilling to carry out his or her obligations under the contract. Specific performance is allowed in real estate contracts because each parcel of land is unique and monetary damages are not adequate.

What is an action for 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. … Specific performance is commonly used in the form of injunctive relief concerning confidential information or real property.

How do you enforce specific performance?

Specific Performance asks the court to force the opposing party into a contract that binds them to actually perform the contract at issue, rather than award damages for breach of contract. In real estate litigation, a buyer can force a reluctant seller to live up to the purchase and sale agreement. 2.

What is part performance?

An equitable doctrine which allows a person who has partly performed an oral contract to have it specifically performed or to sue for damages even though legislation would usually render the contract unenforceable unless evidenced by writing.

What is the difference between injunction and specific performance?

An injunction is a remedy that prohibits a party from a particular act. … The main difference is that specific performance orders a party to do something, and an injunction orders a party not to do something.

How do you win a specific performance lawsuit?

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.

What is a remedy in law?

a way of using the legal system to make sure that someone’s rights are not taken away from them: We will pursue all legal remedies available to enforce our rights. … What is the pronunciation of legal remedy?

Is specific performance a cause of action?

Specific performance is an alternative equitable remedy to a cause of action for breach of contract. … For example – where a contract is for purchase of real estate, an action for specific performance asks the court to order the defendant to sell the property to the plaintiff on the terms stated in the contract.

When is Specific Performance Ordered?

Courts will enforce specific performance only if the underlying contract was fair and equitable. Other commodities that courts have found to support specific performance include works of art, custom-made products, and goods in short supply. Nearly all states have adopted the Uniform Commercial Code (UCC), which addresses specific performance. For example, California law states that specific performance may be compelled if:

Why do courts grant specific performance?

The most common reason courts grant specific performance is that the subject of the contract is unique, when it's not merely a matter of money or where the true amount of damages is unclear. When a contract is for the sale of a unique property, for instance, mere money damages may not remedy the purchaser's situation.

What is agreed counterperformance?

The agreed counterperformance has been substantially performed or its concurrent or future performance is assured or, if the court deems necessary, can be secured to the satisfaction of the court. As you can see, an order for specific performance is largely left up to the discretion of the courts.

What is replevin in law?

The term replevin -- commonly referred to as "claim and delivery" -- refers to a legal action in which actual property (not its monetary value) must be transferred to the plaintiff in a dispute. It is similar to specific performance and often used interchangeably in statutes.

Specific Performance Explained in Less than 4 Minutes

Specific performance is a remedy for contracts in which the party is required by the court to provide the contracted item or service instead of a monetary payment. It often comes into play in lawsuits over contracts for real estate and collectibles.

Definition and Examples of Specific Performance

Specific performance is a court order requiring a party that caused a loss to perform their promise as closely as possible, often in cases where a cash payment can't replace what was lost.

How Does Specific Performance Work?

Here’s an overview of the process of specific performance in a civil lawsuit:

Specific Performance and State Laws

Specific performance regulations are part of the Uniform Commercial Code (UCC), a set of laws for commercial and business contracts in the U.S. The Code addresses a buyer’s right to specific performance, stating that:

What Is An Example Of Specific Performance?

If a contract is for the sale of a specific property, such as a house, mere money damages may not be enough to alleviate a buyer’s problem. Rina offers to buy Beth’s home but later decides to sell it. Real estate is unique to the industry, according to some.

What Is Specific Performance Business Law Quizlet?

In business law, specific performance is a legal remedy whereby a court orders a party to perform a contractually agreed upon act. It is an equitable remedy that is typically only available when damages would be an inadequate remedy.

What Are The Elements Of Specific Performance?

To grant the plaintiff’s specific performance, a contract must be valid, binding, and enforceable, plaintiff compliance with terms of the contract, and defendant’s failure to perform its part of the contract.

What Is Specific Performance In Real Estate

In real estate, specific performance is a legal remedy which allows a party to a contract to enforce the contract by obtaining an order from a court requiring the other party to perform their obligations under the contract.

Specific Performance Lawsuits

A specific performance lawsuit is a legal action brought by a party who has not received the specific performance they were promised in a contract. The party bringing the suit is asking the court to order the other party to fulfill their obligations under the contract.

Specific Performance Specific Performance

A specific performance is a unique performance of a particular piece of music or other work, by a specific artist or group of artists. It is usually distinguished from a “cover version” or “re-recording” of the same work by another artist or group.

What do you mean by specific performance of contract?

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.

What is an action for 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. … Specific performance is commonly used in the form of injunctive relief concerning confidential information or real property.

What is specific performance and when will it be granted?

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.

What are the elements of specific performance?

The making of a specifically enforceable type of contract, sufficiently certain in its terms.

How do you enforce specific performance?

Specific Performance asks the court to force the opposing party into a contract that binds them to actually perform the contract at issue, rather than award damages for breach of contract. In real estate litigation, a buyer can force a reluctant seller to live up to the purchase and sale agreement. 2.

What is the purpose of rescission?

Rescission is the process of unmaking a contract. The goal of contract rescission is to put the two parties into the original positions they were in before making the contract. Rescission requires that the whole contract be unmade. It is not possible to pick and choose which parts of a contract to cancel.

Is specific performance a cause of action?

Specific performance is an alternative equitable remedy to a cause of action for breach of contract. … For example – where a contract is for purchase of real estate, an action for specific performance asks the court to order the defendant to sell the property to the plaintiff on the terms stated in the contract.

Why is specific performance used in a contract?from en.wikipedia.org

In practice, specific performance is most often used as a remedy in transactions regarding land, such as in the sale of land where the vendor refuses to convey title. The reason being that land is unique and that there is not another legal remedy available to put the non-breaching party in the same position had the contract been performed.

When is Specific Performance Ordered?from findlaw.com

Courts will enforce specific performance only if the underlying contract was fair and equitable. Other commodities that courts have found to support specific performance include works of art, custom-made products, and goods in short supply. Nearly all states have adopted the Uniform Commercial Code (UCC), which addresses specific performance. For example, California law states that specific performance may be compelled if:

Why is specific performance ordered only on equitable grounds?from legal-dictionary.thefreedictionary.com

Specific performance is ordered only on equitable grounds in view of all the conditions surrounding the particular case. The determining factor is whether, in equity and good conscience, the court should specifically enforce the contract because the legal remedy of monetary damages would inadequately compensate the plaintiff for the loss.

What is an adequate remedy at law?from legal-dictionary.thefreedictionary.com

Usually an adequate remedy at law exists in the form of damages that represent the excess of the construction cost paid over the original contract price. Where damages are inadequate, however, the court can order specific performance.

What is replevin in law?from findlaw.com

The term replevin -- commonly referred to as "claim and delivery" -- refers to a legal action in which actual property (not its monetary value) must be transferred to the plaintiff in a dispute. It is similar to specific performance and often used interchangeably in statutes.

Why do courts grant specific performance?from findlaw.com

The most common reason courts grant specific performance is that the subject of the contract is unique, when it's not merely a matter of money or where the true amount of damages is unclear. When a contract is for the sale of a unique property, for instance, mere money damages may not remedy the purchaser's situation.

What is a lach in a contract?from legal-dictionary.thefreedictionary.com

Laches is an equitable defense (matter asserted to diminish a plaintiff's cause of action or to defeat recovery) that prevents the enforcement of a contract by specific performance. Laches is an unreasonable delay in asserting a right with the result that its enforcement would cause injury, prejudice, or disadvantage to others. Laches is applied only where enforcement of a right will cause injustice.

What is specific performance in real estate?

Real estate transactions. Specific performance is a contractual remedy that is very common in real estate. This is particularly the case as there may not be other remedies to compensate for the harm suffered by the failure of a party to transfer the title to a piece of land or real estate property.

What happens if a defendant performs a specific performance?

If the specific performance requires that the defendant render services or perform certain things, it may not be done in accordance with the expected standards . Also, the court may not have the expertise or ability to supervise the performance of the work and ensure the defendant complied with the judgment.

What is the advantage of specific performance?

Another advantage in specific performance is that the plaintiff or the aggrieved party can benefit and enjoy the bargain initially negotiated in the contract. In other words, the plaintiff will force the defendant to fully execute the terms of the contract.

When a plaintiff requires specific performance, what is the requirement?

A plaintiff requiring specific performance must have performed his or her obligation towards the defendant. Otherwise, the courts may not award specific performance when the plaintiff did not execute his or her obligations towards the defendant or has contributed to the damages in a significant way.

Why do courts grant specific performance?

Courts grant specific performance as a remedy for the breach of clear, specific and legally binding obligations. Otherwise, it would not make sense for the court to enforce ambiguous terms or obligations the parties did not intend to commit to in their contract.

Does seeking specific performance from John cause harm to Suzy?

Seeking specific performance from John will not be appropriate and may result in greater harm to Suzy. What is notable with this definition is that the court will “ order ” a party to perform what it has “ promised ” as the award of monetary damages will not be suitable to compensate for the harm.

Who can use specific performance remedy?

The specific performance remedy is also available to a seller of a real estate property.

What is specific performance in a contract?

Specific performance is referred to under the law as an “equitable” remedy. Table of Contents.

What Do You Need to Know about Specific Performance?

However, while money works in most lawsuit cases, sometimes money is not enough. When money isn’t adequate to compensate a plaintiff for their loss , then the plaintiff may seek specific performance. When a court grants it as a form of equitable remedy, the defendant has to do whatever they originally promised.

How Does Specific Performance Work with Real Property?

Specific performance can be used in contracts for the sale of land. Specifically, if you have a pending purchase contract and the buyer changes their mind, the seller could sue to make them complete the transaction.

What is an enforceable contract?

An enforceable contract has to meet certain requirements depending on the state you’re in. They must also prove they are both ready and able to fulfill the contract within the original parameters. Depending on the case, the courts may award additional money damages on top of the actual performance.

When a court grants a remedy, does the defendant have to do what they promised?

When a court grants it as a form of equitable remedy, the defendant has to do whatever they originally promised. This legal remedy is used when the plaintiff demonstrates that money will not make them “whole” from the breach.

Why is specific performance ordered only on equitable grounds?

Specific performance is ordered only on equitable grounds in view of all the conditions surrounding the particular case. The determining factor is whether, in equity and good conscience, the court should specifically enforce the contract because the legal remedy of monetary damages would inadequately compensate the plaintiff for the loss.

Why is specific performance denied?

Specific performance will be denied where money would adequately compensate the plaintiff for the loss. The court determines whether money would be adequate after examining the subject matter of the contract itself. If it is land, money is inadequate because land is traditionally viewed as being unique, in that no two parcels of land are exactly alike. An award of damages will not enable the plaintiff to acquire the same parcel of land anywhere else.

What is the advantage of breach of contract for sale of personal property?

An important advantage to this remedy is that, since it is an order of an equity court, it is supported by the enforcement power of that court.

Why is it important to know the terms of a contract must be definite and certain?

This is significant because equity cannot be expected to enforce either an invalid contract or one that is so vague in its terms that equity cannot determine exactly what it must order each party to perform. It would be unjust for a court to compel the performance of a contract according ...

Does insolvency of the defendant determine whether specific performance will be granted?

Insolvency of the defendant, which prevents the plaintiff from collecting damages, does not determine whether specific performance will be granted. The court ascertains only whether an adequate legal remedy exists, not whether the defendant has the financial resources to pay the judgment.

Can equity order acts that it cannot supervise?

Supervision of Performance. As a general rule, equity will not order acts that it cannot supervise. In many instances, specific performance is denied where courts would be unduly burdened with the task of supervising the performance.

Is it unjust to compel a court to order a contract?

It would be unjust for a court to compel the performance of a contract according to ambiguous terms interpreted by the court, since the court might erroneously order what the parties never intended or contemplated.

Definition and Examples of Specific Performance

• Specific performance is a court order requiring a party that caused a loss to perform their promise as closely as possible, often in cases where a cash payment can't replace what was lost. In a typical civil lawsuitwhere specific performance comes up, there is a plaintiff (“claimant”) and a defendant (“respondent”). The plaintiff is the party that ...

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How Does Specific Performance Work?

Specific Performance and State Laws