What is equitable remedy specific performance?
The equitable remedy sought in an action for specific performance is a court order requiring the defendant to perform the action he or she promised to perform.
Why is specific performance an equitable remedy?
Specific performance is a type of equitable remedy available in a breach of contract action. It is a remedy based on the concept of fairness. Specific performance recognizes that money may not adequately compensate the non-breaching party in certain situations.
Is specific performance equitable?
Conclusion. In summary, specific performance is an equitable remedy that is available when a party to a sales contract for real property is harmed by the other party’s nonperformance.
What is considered an equitable remedy?
Equitable relief is a court-granted remedy that requires a party to act or refrain from performing a particular act in cases where legal remedies are not considered to provide sufficient restitution.
How do I sue someone for specific performance?
Suing for Specific Performance as a Buyer In order for a buyer to ask the court for specific performance in a contract, the buyer must tender the purchase price of the unique item or prove that proper financing exists in order to move the court to order specific performance on the part of the seller.
How do you win a specific performance lawsuit?
In order to successfully fight a specific performance demand or lawsuit, the defending party must evaluate the facts and circumstances and be prepared to show that the party seeking specific performance has not met the required elements for specific performance, and more specifically show that the remedy of specific …
When the plaintiff seeks the remedy of specific performance?
When the plaintiff seeks the remedy of specific performance, the plaintiff wants the other party to carry out the terms of the contract and not pay damages. If monetary damages would be an adequate remedy, then an action for specific performance is not appropriate.
Can you sue for specific performance and damages?
In a typical contract dispute, the most common form of remedy is monetary damages, which is otherwise known as restitution. In these unique scenarios, a buyer can sue the seller in the contract for specific performance. …
What are the equitable remedies of specific performance Reformation and injunction?
The equitable remedies are specific performance (an order directing a person to deliver to the buyer the unique thing the seller contracted to sell), injunction (an order directing a person to stop doing that which he should not do), and restitution (the return by one party of the benefit conferred on him when the …
How do equitable remedies differ to common law remedies?
Equitable remedies are broad in scope, flexible, direct in application and supplement the common law. Unlike common law remedies, equitable remedies are not constrained by concepts such as remoteness of damage or causation, thereby enabling equity to go beyond the common law in redressing loss and damage.
Who can sue for specific performance?
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.
Is impossibility of performance an excuse for a breach?
And it is up to the defendant to either deny the existence of the contract, deny the breach, deny the damages, or give a valid legal reason why the contract is not enforceable. One such defense is that of impossibility of performance. Under some circumstances, impossibility of performance can excuse failure to perform.
Is specific performance an equitable remedy?
It is a special remedy that is awarded by the court when no other remedy (such as damages) will adequately compensate the other party. Specific performance is an equitable remedy, which means that it is awarded at the discretion of the court. Parties are not automatically entitled to it.
What is the remedy for specific performance of contract?
See Restatement (Second) of Contracts § 357, cmt. a (1981) (“Specific performance is the fulfillment of the performance due in the contract as nearly as practicable, by the party in breach.”). The remedy of specific performance is equitable in nature and governed by equitable principles.
What are equitable remedies under common law?
■ Equitable remedies were originally created in accordance with principles of justice and fair play to the parties. The only common law remedy was damages but in appropriate cases this remedy may be inappropriate for the claimant. Equitable remedies act in personam and it is a contempt of court to wilfully refuse to comply with the court order.
Are all remedies granted at the discretion of the court?
All other remedies are equitable and are granted at the discretion of the court. This does not mean that the availability of equitable remedies is subject to the ‘whim and fancy’ of the court.