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Home » Law Dictionary » S » SPECIFIC PERFORMANCE

SPECIFIC PERFORMANCE

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

(A) remedies. The actual accomplishment of a contract by the party bound to fulfill it. 2. Many contracts are entered into by parties to fulfill certain things, and then the contracting parties neglect or refuse to fulfill their engagements. In such cases the party grieved has generally a remedy at law, and he may recover damages for the breach of the contract; but, in many cases, the recovery of damages is an incompetent remedy, and the party seeks to recover a specific performance of the agreement. 3. It is a general rule, that courts of equity will entertain jurisdiction for a specific performance of agreements, whenever courts of law can give but an inadequate remedy; and it is immaterial whether the subject relate to real or personal estate. (B) A legal remedy where the losing party must perform its portion of a breached contract instead of or in addition to money damages. This occurs when the damages to the plaintiff includes something unique and specific and which is not replaceable, for example, the award of a one of a kind automobile or real estate.

Related Posts:

  • RESCISSION OF A CONTRACT
  • REMEDY
  • LIQUIDATED DAMAGES
  • BETROTHMENT
  • ASSUMPSIT
  • BILATERAL CONTRACT

Filed Under: S

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