ContractsIntermediateDelaware Exam
What is the legal remedy of 'specific performance' in a Delaware real estate transaction?
AThe breaching party must pay money damages
BThe court orders the breaching party to complete the contract as agreedCorrect
CThe contract is voided and both parties return to the original position
DThe broker's commission is forfeited
Why The court orders the breaching party to complete the contract as agreed Is Correct
Answer B: The court orders the breaching party to complete the contract as agreed
Specific performance is an equitable remedy in which a court orders the breaching party to actually perform the contract. Real estate is considered unique, making specific performance commonly available.
Exam Tip: Contracts
Contract questions frequently test the essential elements required for a valid contract. Remember: competent parties, mutual consent, lawful object, and sufficient consideration. Watch for void vs. voidable distinctions.
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