Is specific performance a remedy or cause of action?
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 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 to complete performance of the contract.
Can a seller sue a buyer for specific performance in California?
Specific Performance Attorney – Orange County CA When a seller tries to back out – of a real estate contract, and the buyer still wants to buy the property, the buyer can file a lawsuit or an arbitration request to seek a ‘specific performance’ ruling. The court or arbitrator can force the seller to sell.
Can parties agree to specific performance?
Parties are free to contract on express terms that specific performance will be excluded as a remedy and the court will be very reluctant to interfere with such express terms. This is based on the proviso that those who come to equity must do so with clean hands.
Can you claim both damages and specific performance?
specific performance of any covenant, contract or agreement it shall be lawful for the same Court if it shall think fit to award damages to the party injured either in addition to or in substitution for such specific performance & such damages may be assessed as the Court shall direct.”
In which circumstances would a buyer most likely sue for specific performance?
In which circumstances would a buyer most likely sue for specific performance? The seller backed out of the original sales contract.
What would trigger 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.