Requirements for Specific Performance Flashcards
1
Q
To Obtain Specific Performance Must Show:
A
- Existence of a K
- The fulfillment of any conditions precedent by party seeking enforcement
- Mutuality of Remedy
a. Both parties capable of performance, and
b. The P’s counterperformance can be secured
2
Q
Certainty of K for SP
A
- Identity of Parties
- Consideration
- The time and maner of payment
- The subject matter of the K
3
Q
Enforcing Specific Performance in Land Contracts
A
- Buyer present and property are present: Equity will grant enforcement by decree
- Only buyer and seller are present (not property): Judge may order them to specifically perform OR go to jail
- Only seller and property are present: Equity probably won’t grant relief b/c there’s nobody there to pay