Contracts
The legal remedy of 'specific performance' in a real estate contract means:
AThe breaching party pays monetary damages equal to the lost profit
BA court orders the breaching party to perform the contract as agreed✓ Correct
CThe non-breaching party rescinds the contract and recovers the deposit
DThe contract is voided and both parties are released from obligations
Explanation
Specific performance is an equitable remedy where a court compels the breaching party to fulfill the contract terms. It is frequently sought in real estate because each property is unique and monetary damages may be inadequate compensation.
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