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Specific performance Practical Law UK Glossary 7-107-7288 (Approx. 3 pages) Ask a question Glossary Specific performance. Related Content. An equitable remedy available for breach of contract. A decree by the court to compel a party to perform its contractual obligations. In the High Court, it may be granted in addition to or instead of damages.
Business Law: Unit of measurement 6 Assignment 1 Specific Performance In the kingdom of contract jurisprudence there are many ways of turn toing breach of contract. The intent of this paper is to analyse four separate scenarios and make up one’s mind if the redress of specific public presentation would be applicable to any of them.
The Equity law additionally gives the option of granting of specific performance and injunctions to restrain and actual or threatened breach of a negative stipulation. The plaintiff under the common law has the right to exercise the option, the court has an obligation to grant the party relief and therefore in a case of breach of contract the innocent party has to be awarded damages.
Specific performance arguably accords better with parties’ ordinary expectations when they make a contract. It allows them to get exactly what they contracted for, not just monetary compensation. In some civil law jurisdictions and international contract law instruments, specific performance is the main remedy for breach of contract.
The innocent party may sue for damages immediately the breach is announced. Hochster v De La Tour is an example. Effects of breach A breach of contract, no matter what form it may take, always entitles the innocent party to maintain an action for damages, but the rule established by a long line of authorities is that the right of a party to treat a contract as discharged arises only in three.
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 as to complete performance of the contract.It is typically available in the sale of land law, but otherwise is not generally available if damages are an appropriate alternative.Specific performance is almost never available for contracts of.