Specific performance pertains to performance of contracts. It is an extraordinary equitable remedy that compels a party to execute a contract according to the precise terms agreed upon or to execute it substantially so that, under the circumstances, justice will be done between the parties (“specific performance, n. d. ). Simply put specific performance imposes obligation on the defendant to perform specific contractual requirements.
According to Hudson (2003) a specific performance is generally applicable when there is breach of contract and monetary damages are inadequate, mainly where the contract involves unique personal property (chattel) or land and secondly. It is ordered on equitable grounds at the courts discretion (fuller, 2010) whereby, upon consideration of conditions pertaining to the case the court deems it fit to enforce the contract because monetary compensation would be inadequate to the plaintiff.
Listed are sample court cases pertaining to breach of contract: Tarrington contracts to sell her house and lot to Rainier. She refuses to deed the property to Rainier because another person is willing to pay more; Marita contracts to sing and dance in Horace’s nightclub for one month, beginning June 1. She then refuses to perform; Astro Computer Corp. has three shareholders: Coase, who owns 48%, and Cary, who owns 4%. Cary contracts to sell his 4% to De Valle but later refuses to transfer the shares to him.
The three situations above would be denied specific performance because: none of the items/services in the contract is unique i. e. it cannot be easily repurchased in the open market or is rare in addition, enforcement by the court would be impossible because the stipulated time of contract is overdue (case 2). If a case complies with the two stipulations specific performance is likely to be granted for instance: Juan contracts to purchase a rare coin from Edmund, who is breaking up his coin collection.
At the last minute, Edmund decides to keep his coin collection intact and refuses to deliver the coin to Juan. References Fuller, Graham. (2010). Purchasing contracts a practical guide. London: Spiramus Press ltd. Hudson, Alistair. (2003). Equity and trust. Coogee: Cavendish publishing limited. Specific Performance- Valid Contract, Plaintiff’s Conduct, Inadequate Legal Remedy, Supervision of Performance, Defenses – Right to Specific Performance. (n. d). Retrieved (from http://law. jrank. org/pages/10415/Specific-Performance. html