In hardy exploration & production (india), inc v government of india, ministry of petroleum & natural gas, civ action no 16-140 (ddc 7. Specific performance is an equitable remedy ordered by the court where monetary compensation is deemed insufficient to compensate the. On the other hand, targets seek specific performance of the contractual merger agreement: a court ruling ordering a buyer to close the merger or, alternatively,. The threat of specific performance is often an effective tool for buyers when a seller gets cold feet and threatens to cancel a real estate contract. Specific performance is an equitable remedy in the law of contract, whereby a court issues an order requiring a party to perform a specific act, such to complete .
Specific performance damages in the event of breach of this agreement by a party hereto may be difficult, if not impossible, to ascertain, and it is therefore. We'll first discuss the concept of “specific performance” and then address the two general issues that arise when a buyer or seller wants to force. Endings are a perennial challenge when creating any temporal art form this article is a reflection of the nature of this problem in the context of. Pdf | specific performance is a primary remedy for breach of contract available for the aggrieved party this order emphasises the performance.
(2) the decree for specific performance may include such terms and conditions as to payment of the price, damages, or other relief as the court may deem just. Complaint for specific performance or damages based on a contract to and if the form does not ask for certain information, a particular court might still require. Reverse break-up fees and specific performanceby practical law corporate & securities related content maintained • usa (national/federal)a description of. Definition of specific performance in the legal dictionary - by free online english dictionary and encyclopedia what is specific performance meaning of.
The term “specific performance” refers to literal performance of one's obligations under a contract should a party default on his obligation, a court may issue an. The legal term specific performance defined & explained. In the high court, it may be granted in addition to or instead of damages unlike damages which are available as of right, specific performance is granted at the. Specific performance definition is - the performance of a legal contract strictly or substantially according to its terms.
Specific performance is the legal concept that anyone who signs a contract is bound to the terms of the contract. Definition of specific performance: mandatory court order to a party to fulfill its contractual obligations according to the precise terms of the contract it entered into. Unlike injunctions, which have a wide range of uses, specific performance is usually ordered only in contract-related cases an order of specific performance. Specific performance a contractual remedy in which the court orders a party to actually perform its promise as closely as possible, because monetary damages .
In 1920, roscoe pound, writing on the subject of the progress of law and equity, touched on the problem of specific performance of con- tracts to build or repair1 . Specific performance is a remedy sought in civil court, instead of money it requires a defendant to actually go through with a certain action he promised to do,. Suits for specific performance are less common than one might think specific performance is essentially a court mandate that someone. A specific performance example is when a party defaults on its contractual obligation and is ordered by the court to fulfill said obligations.