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?
Correct Answer
B) Specific performance, requiring the seller to fulfill the terms of the contract
Specific performance is an equitable remedy available in real estate contract disputes because each parcel of real property is considered unique and monetary damages may be inadequate. A court may order the breaching party to fulfill their contractual obligations and complete the sale. Iowa courts recognize specific performance as an appropriate remedy when a seller wrongfully refuses to convey real property under a valid purchase agreement.
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