Contracts
What is 'specific performance' as a remedy in an Illinois real estate contract dispute?
AA financial penalty paid to the non-breaching party
BA court order requiring the breaching party to carry out the terms of the contract✓ Correct
CA requirement that the property be re-listed at the same price
DAn arbitration process required before filing in court
Explanation
Specific performance is an equitable remedy where a court orders the breaching party to perform their contractual obligations. In real estate, a buyer who is wrongfully refused a sale may seek specific performance because real property is considered unique and money damages may be insufficient. Specific performance is more commonly sought by buyers (to compel sale) than sellers.
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