At Desert Mesa Brokers in Prescott, a seller breaches after the buyer fully performed and the buyer wants the property rather than just money. What should the parties assume under current Arizona rules?
Correct Answer
D) specific performance may be an available remedy in an appropriate Arizona real estate contract dispute
Under Arizona contract remedies; current AAR contract remedy framework, specific performance may be an available remedy in an appropriate Arizona real estate contract dispute.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A bilateral contract is an agreement in which both parties exchange promises and are both obligated to perform, while a unilateral contract is one in which only one party makes a promise and the other party is not obligated to act.
A breach of contract occurs when one party fails to perform their obligations under the contract without a legal excuse. The non-breaching party is entitled to legal remedies including damages, specific performance, or contract rescission.
Consideration is something of value exchanged between parties to a contract, making the agreement legally binding. It can be money, a promise to act, a promise to refrain from acting, or anything else of value.
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