Contracts
Specific performance as a remedy for breach of a real estate contract in Alaska is available because:
AReal estate is considered a commodity that can easily be replaced
BEach parcel of real estate is unique and money damages may be inadequate✓ Correct
CAlaska courts prefer specific performance over monetary damages
DAll contracts are subject to specific performance in Alaska
Explanation
Courts may grant specific performance in real estate cases because land is considered unique and money damages may not adequately compensate the injured party. The buyer can compel the seller to convey the property as agreed, or the seller can compel the buyer to complete the purchase.
Related Alaska Contracts Questions
- In Alaska real estate contracts, 'specific performance' is a remedy that:
- An Alaska purchase agreement contains a 'force majeure' clause. This clause would excuse contract performance in the event of:
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- An Alaska real estate broker's compensation is set by:
- When a buyer fails to perform under a purchase agreement without legal excuse, the seller may retain the earnest money as:
- An Alaska exclusive right-to-sell listing agreement means:
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