Define Specific performance. Explain.

Expert Solution

Specific performance is an equitable remedy ordered by court where the defendant is asked to perform his /her part of duty, just as agreed upon by the two parties under a contract. This remedy is sought where either it is difficult to ascertain the damages or no amount of monetary damages is adequate to compensate for the breach of contraact. For award of specific performance, the court is sure that no other remedy can put the aggrieved party to a place where it would have been, had the breach did not happen.

An example of specific performance is a sales contract of an old building in India between a person whose five generations lived in the building during colonial rule, and who migrated to England after independence of country. The family wanted to buy it because of its heritage, and the owner agreed to do so for $70000. When he learnt that the party is well off, and earns in British pounds, he started asking $500000 for the same which was a price too high for the property. The court orders specific performance to the owner ( handing over the property to the family for $70000) because no other remedy would be appropriate, given the emotional association of the family with property.

keosha answered 1 year ago

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