A buyer sues a seller who refuses to complete a real estate sale. If the court orders the seller to go through with the transaction rather than pay monetary damages, this remedy is called:
Correct Answer
B) Specific performance
Specific performance is a court-ordered remedy that compels the breaching party to fulfill the terms of the contract. It is commonly sought in real estate disputes because each parcel of land is considered unique, making monetary damages an inadequate substitute.
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A buyer submits an offer on a Kentucky property. Before the seller responds, the buyer decides to withdraw. This is an example of:
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A buyer sues a seller who refuses to complete the sale of a property under a valid purchase contract. Which remedy would require the seller to go through with the transaction?