Contracts
A Florida purchase contract is signed by both parties. Before closing, the seller decides to sell the property to a different buyer for a higher price. The original buyer's legal remedy is:
AOnly monetary damages equal to the difference in price
BSpecific performance — a court order requiring the seller to complete the sale✓ Correct
CNo remedy since real estate transactions are at-will
DRescission and return of the deposit only
Explanation
Because real estate is unique, monetary damages may be inadequate compensation. Florida courts can order specific performance — compelling the seller to complete the sale as contracted. The buyer can also seek compensatory damages for any losses suffered. Specific performance is a uniquely available remedy for real property contracts that is not available for most personal property contracts.
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