The law of contract is a set of legal principles that govern the formation, performance and enforcement of agreements between parties. Specific performance is a remedy that may be awarded by a court to an injured party in a breach of contract case.
Specific performance is an equitable remedy that orders the breaching party to perform their obligations under the contract. Essentially, it requires the breaching party to do what they promised to do under the contract. This remedy is typically granted when monetary damages would be insufficient to compensate the injured party or when the subject matter of the contract is unique and cannot be easily replaced.
For specific performance to be granted, the following conditions must be met:
1. The subject matter of the contract must be unique or rare. In other words, it must be difficult to find a substitute for the item or service that was agreed upon in the contract.
2. The injured party must have no adequate remedy at law. This means that monetary damages would not be sufficient to compensate them for the harm they have suffered.
3. The contract must be clear and definite. If the language is vague or ambiguous, specific performance may not be granted.
4. The breaching party must be capable of performing their obligations under the contract. If they are unable to perform, specific performance may not be granted.
In general, courts are reluctant to award specific performance because it requires ongoing supervision and enforcement by the court. It is typically only granted in cases where the harm suffered by the injured party would be difficult to measure in monetary terms.
Some common examples of contracts where specific performance may be granted include:
1. Real estate contracts – when a buyer breaches a contract to purchase real estate, the seller may seek specific performance to force the buyer to complete the purchase.
2. Employment contracts – when an employee breaches a contract by leaving before their agreed-upon term, the employer may seek specific performance to force the employee to fulfill their contractual obligations.
3. Intellectual property contracts – when a party breaches a contract involving intellectual property, specific performance may be sought to force the breaching party to comply with the terms of the contract.
In conclusion, specific performance is a powerful remedy that may be awarded by a court in a breach of contract case. It requires the breaching party to perform their obligations under the contract and can be granted when monetary damages would be insufficient to compensate the injured party or when the subject matter of the contract is unique and cannot be easily replaced. If you are dealing with a breach of contract issue, it is important to consult with an experienced attorney to determine your options.