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ContractsBreach_and_remediesEASY

A seller refuses to convey title after signing a valid purchase contract, and the buyer sues to force the sale to close. What remedy is the buyer seeking?

Correct Answer

D) Specific performance

Specific performance is correct because the facts match an equitable remedy ordering a party to perform the contract rather than merely pay damages, commonly sought in unique real-property transactions. That is the best description of the relationship, right, or legal concept tested here.

Answer Options
A
Liquidated damages
B
Rescission
C
Compensatory damages
D
Specific performance

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Related Topics & Key Terms

Key Terms:

breach_and_remediescontractsspecific_performanceremedy

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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