94. Specific performance of contracts Flashcards
1
Q
- Specific performance of contracts
A
General overview
[94.01] This section empowers a court to order that a company specifically enforces a contract to take up and pay for any debentures issued by the company. Without this statutory provision, the court is constrained by the common law principles of contractual remedies for damages.
2
Q
Specific performance
A
[94.02] A contract with a company to take up and pay for any debentures of the company may be enforced by specific performance: s 94. This express provision empowers the court to order specific performance in respect of a contract to take up debentures in a company, a remedy that is not available under the common law principles for remedies, damages and specific performance.
